ISLAMABAD: The federal government has fully utilised a $1.2 billion oil facility from the Kingdom of Saudi Arabia (KSA), with the final $100 million tranche drawn in April 2026.
The Saudi Fund for Development disbursed the facility at $100 million per month from May 2025 through April 2026, Federal Minister Ahad Cheema confirmed on Wednesday.
As per the media reports, the government has requested an extension to the oil facility, but Saudi Arabia has not yet provided any formal confirmation of approval.
Saudi Arabia remains the largest depositor for Pakistan, having granted an additional $3 billion to Islamabad in April 2026, raising total Saudi deposits to $8 billion.
The $8 billion in Saudi deposits is currently held with the State Bank of Pakistan (SBP), reinforcing Riyadh’s role as a critical financial partner for Islamabad.
Official data from the Economic Affairs Division shows Pakistan secured $4.47 billion in foreign inflows during April 2026 alone, compared to just $0.57 million in April 2025.
The April 2026 inflows comprised multilateral and bilateral deposits, a Eurobond launch, and commercial loans, reflecting a broad range of external financing instruments used.
Pakistan’s total foreign loans reached $11.06 billion in the first 10 months of the current fiscal year, covering the period from July 2025 to April 2026.
This compares to $6.08 billion secured in the same 10-month period of the previous fiscal year, indicating a significant rise in Pakistan’s external borrowing this year.
