Pakistan will import around 32.7 Million Barrels of crude oil this year under an agreement signed with the Saudi Fund for Development to meet its needs of petroleum products on deferred payment.

The Pak-Arab Refinery Company Limited and National Refinery Limited are planning to import 16.89 and 15.81 million barrels of oil in the year 2022 respectively.

As per the agreement, the crude oil worth 100 million dollars per month for one year could be imported on deferred payment.