Gilani is scheduled to fly to Saudi Arabia for an official visit on Friday. The Prime Minister will perform Umra, besides holding talks with top Saudi leadership on bilateral issues. These will include bilateral trade, oil import, war on terror and other issues of mutual interest. The Prime Minister will also invite Saudi investors to invest in promising sectors.
Pakistan's economy is under severe pressure due to rising oil pries in the world market. For the first time in its history Pakistan's oil import bill is gone over 10 billion this year. Since some major sectors are not performing well, Pakistan is feeling difficulty in absorbing ever highest import bill. Among other options to offset the impact of high oil prices on the economy Pakistan wants crude oil supply from Saudi Arabia against deferred payments.
On the government direction, Foreign Office has approached Saudi Arabia to seek 1998-like facility for oil import for offsetting rising pressure of high petroleum products' prices on the economy. Foreign Office got details of the oil supplied by Saudi Arabia against deferred payment after nuclear tests in May 1998.