Kuwait has extended its vital oil credit facility to Pakistan for an additional two years, providing much-needed support for the country’s energy sector and ongoing economic reforms. 

The announcement came following a meeting between Pakistan’s Petroleum Minister Ali Pervaiz Malik and Kuwaiti Ambassador Nassar Abdulrahman J Almutairi in Islamabad on Wednesday.

The extension, facilitated through the Kuwait Petroleum Corporation, allows Pakistan State Oil (PSO) to continue importing approximately two million tonnes of oil annually from Kuwait on deferred payment terms. This significantly eases the immediate financial burden on Pakistan’s economy.

Previously, the credit facility was renewed on an annual basis.  This two-year extension represents a substantial strengthening of the long-standing energy partnership between the two countries. 

Minister Malik expressed gratitude for Kuwait’s continued support, emphasizing its crucial role in Pakistan’s economic reform efforts.