ISLAMABAD: The Kingdom of Saudi Arabia (KSA) has made a significant offer to its ally country for provision of 250,000 barrel oil daily against price of 100,000 acres agriculture land in Pakistan.
Saudi Arabian authorities have formally sent its multi-million offer to the Pakistani officials due to increasing shortage of water in their country.
According to KSA notification, Saudi Arabia would close self-production of wheat and other food products by 2016 keeping in view of severe shortage of water.
However, Saudi government decided for a commodities exchange in accordance to barter system with its ally country before launching of new food policy, local newspaper reported.
The written offer has been forwarded to the Secretary Defence Lieutenant General Asif Yaseen Malik and Secretary Cabinet Sami Saeed.
The reports claimed that Saudi Arabian government seemed serious over its decision to purchase 10 million acres of rich land in Pakistan on lease of 99 years.
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