Pakistan's new honcho is a Saudi product, through and through. That hellhole used to be his home when he was in exile from Pakistan for many, many years. Don't expect him to do anything other then what his masters expect of him. Christians and other minorities, better watch out. Saudi Arabia will want Sharif to cleanse Pakistan of anybody and everybody who is not a wahhabi follower. That $15 Billion comes with a wahhabi price tag. Wait and see. This is a huge bribe extended by the rancid ones to a Muslim country known to have nuclear technology to rival any other in the world and the Saudi intentions can't be any more clearer..... unless they are extending this offer on behalf of the USA. Anything is possible in this deceptive world of ours.
... With an ‘amiable’ government in place, Saudi Arabia is expected to extend a bailout package of about $15 billion to Pakistan’s highly indebted energy sector by supplying crude and furnace oil on deferred payment to enable it to resolve the chronic circular debt issue.
A senior government official said the Saudis had been taking reasonable interest in helping out the incoming PML-N government led by Nawaz Sharif.
They had extended a similar special package to Pakistan soon after it went nuclear in 1998 and faced international economic sanctions.
Between 1998 and 2002, Pakistan received $3.5 billion (Rs190 billion at the exchange rate at that time) worth of oil from Saudi Arabia on deferred payment, a major part of which was converted into grant.
According to the official, as soon as the PML-N emerged as the majority party after the May 11 elections, the Saudi ambassador in Islamabad sought a briefing on the country’s oil requirements from the foreign ministry before calling on prime minister-designate Nawaz Sharif in Raiwind, Lahore.
He was immediately provided a position paper, the official said.
Pakistan expects about 100,000 barrels of crude oil and about 15,000 tons of furnace oil per day from Saudi Arabia on deferred payment for three years. The amount involved works out at about $12-15bn.
The facility can be utilised to reduce loadshedding in the short term and provide an opportunity in the medium term to restructure the power sector by minimising subsidies, eliminating circular debt, ensuring recovery from the public sector and reducing system losses to bring it to a self-sustainable level.
“During the package period, the PML-N government can resolve the electricity crisis and develop hydropower projects through a combination of public and private investments and bagasse-based power production by the sugar industry,” he said..........