Saudi Arabia links release of funds with tax exemption

ISLAMABAD: Pakistan and Saudi Arabia have settled their loan issues under which the government in Islamabad will meet Saudi condition of exempting the funds from any tax.
According to sources, Saudi Arabia has decided to give Pakistan 382 million dollars for four projects but has linked it with exemption from tax.
The sources further said the Government of Pakistan is taking steps to meet the Saudi conditionality.
Both the countries will ink the agreements soon, said the sources, adding the signing ceremony is likely to take place during Saudi crown prince’s visit to Pakistan. -PNP