Title: Pakistan Approves Technical Grant for Kuwait Petroleum Corporation

The Pakistani Ministry of Finance announced that the Economic Coordination Committee has approved a supplementary technical grant of 27 billion rupees for the Kuwait Petroleum Corporation. In a statement, it noted that "currently, this account has suffered severe losses in exchange rates due to the disruptions in the parity between the rupee and the dollar over the past twelve months." It added that the Pakistani government is committed to covering these exchange losses. The Ministry of Energy (Petroleum Division) provided a summary of the exchange losses incurred by the Kuwait Petroleum Corporation, which extended credit facilities against the supply of diesel to the Pakistani government.