Pakistan has secured $761.5 million in funds from the International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, to import petroleum products and LNG from Saudi Arabia. According to a declaration issued by the finance ministry, a financing agreement amounting to $761.5 million has been signed between the Ministry of Economic Affairs and ITFC for the import of crude oil, refined petroleum products and LNG. The financing agreement was signed by Mian Asad Hayaud Din, the secretary of the economic affairs division and Eng. Hani Salem Sonbol, the chief executive officer of ITFC. The financing, at the time, ensured dollars were available for the state buyer to use for payment at some of its international purchasing tenders, the publication reported.