Saudi Arabian special oil facility

The government of Pakistan's recent request, through the Ministry of Foreign Affairs, to three oil rich Muslim countries, namely, Saudi Arabia, the United Arab Emirates and Qatar, to extend the special oil facility (SOF) has borne fruit: Saudi Arabia has reportedly agreed to revive the SOF that it was extending to Pakistan in 1988 after Pakistan's decision to carry out the nuclear test.
Many believe that the decision of the Saudi government to extend the facility would go a long way in re-establishing the cordial relations that have historically been enjoyed by the peoples of the two countries - relations that had witnessed a low ebb when Nawaz Sharif was sent back to the Kingdom last year.
Prime Minister Yousuf Raza Gilani is visiting Saudi Arabia to pen the agreement prior to the announcement of the budget, considered a reason for the four-day delay in the presentation of the budget to Parliament - an agreement that would go a long way in providing the government with enough wherewithal to meet some of the serious challenges facing the economy today.
These range from enabling the government to conserve scarce foreign exchange reserves which would provide support to the rupee and enable the government to extend relief to the poorer sections of society through issuing Benazir cards (made possible from a larger than expected revenue pie as a consequence of the SOF) and rationalising the Rs 20 billion subsidy currently paid by the government in view of rising crude oil prices in the international market.
Pakistan imports approximately 250,000 barrels of oil per day from Saudi Arabia, 150,000 from Abu Dhabi, and 18,000 from Qatar. Our consumption of diesel is estimated at 8.5 million tonnes a year, followed by furnace oil (between 4 to 6 million tonnes a year). Saudi Arabia, the UAE and Qatar are currently providing crude oil to Pakistan on deferred payments for 30 days.
During the caretaker government, Kuwait increased this facility to 60 days. But this benefit was no longer adequate, given the extent of the problems facing the economy today. The SOF will extend credit for oil purchases to one year.
It maybe recalled that in response to the nuclear test, the West, led by the United States, had frozen all assistance to Pakistan as well as India (which had carried out the test a few days earlier). It may also be recalled that the decision of the World Bank to arrest all assistance to Pakistan was announced by the US State Department, dispelling the thinly held belief that international financial institutions take decisions independent of the donor countries.
There is considerable antipathy to what is generally regarded as the double standards of the West in terms of dealing with Muslim countries in general and Pakistan in particular.
Only a very small number of countries have remained consistently supportive of Pakistan throughout our short history as a nation, during which we have suffered the trials and tribulations associated with reliance on a recalcitrant West with little compunction to abandon Pakistan when we most needed assistance.The fact that China as well as some Muslim countries, notably Saudi Arabia, have invariably come to our aid speaks volumes of the differences in relations - differences that must be recognised by the newly elected government.