The Pakistan Muslim League-Nawaz (PML-N) on Sunday said there is no reality in reports about provision of $15 billion by the Saudi Oil Facility.
Some party members were of the view that some stock market players could be behind such rumours.
On condition of anonymity, a leader said his party leadership and Saudi Arabia’s envoy held a meeting after their victory in the May 11 elections, but the Saudi Oil Facility (SOF) on deferred payment was never part of the discussions between them.
“So it’s mere speculation and we are apprehensive that the stock market people might be playing dirty tricks to pocket billions of rupees by creating a surge in share values of oil companies and then witness a massive crash of the market,” he added.
He said Saudi Arabia had given an oil facility to Egypt to the tune of around $3 billion despite the fact that both the countries enjoyed the best of cordial relations. So expecting a favour of $15 billion is just part of speculation and it is totally baseless, he added.
Saudi Arabia had extended oil facility on deferred payment to Pakistan when Nawaz Sharif government had conducted nuclear tests on May 28, 1998 and subsequently faced economic sanctions from the West.
Several economists were also of the view that expectations should not be raised unnecessarily.
Only a fool would go to SHYLOCK THE SAUDI
I find it hard to believe that it was a rumor. It seems to me that PML-N has backed out after it realized how the majority feels about the corrupt Saudis.
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