Pakistan is eyeing a $4-5bn loan from Saudi Arabia, likely in the form of crude on deferred payment, a Pakistani industry insider tells MEES.

Pakistan’s PM-designate, Nawaz Sharif – twice previously PM – is close to Saudi Arabia, where he spent several years in exile until recently, and the Saudi royal family. His connections may prove critical in securing the Kingdom’s support. Saudi Arabia also has significant existing political and commercial ties with Pakistan. (CONTINUED - 292 WORDS)