ISLAMABAD: Federal Finance Minister Ishaq Dar announced during a press conference in Islamabad that Saudi Arabia, a friendly country, has made a significant deposit of 2 billion dollars in the State Bank.
Minister Dar expressed his gratitude to the Prime Minister of Pakistan, the Army Chief, and the Saudi government for their support.
Highlighting the positive trajectory of Pakistan’s economy, Minister Dar stated that further improvements are expected in economic matters. He emphasized that Pakistan’s economy has shown noticeable progress and is more stable than before, with the promise of increased stability in the near future.
Regarding external financing, it has been resolved through negotiations between the Ministry of Finance and the International Monetary Fund (IMF). According to sources within the Ministry of Finance, the IMF has accepted the financing gap plan amounting to 8.2 billion dollars, which was submitted by the Ministry.
To meet its financing requirements, Pakistan will receive financial assistance from various sources including the IMF, World Bank, Asian Development Bank, China, Saudi Arabia, and the United Arab Emirates (UAE). In the current financial year, China has pledged to provide 3.5 billion dollars in financing. As per the Ministry of Finance’s plan, a sum of 2 billion dollars was to be obtained from Saudi Arabia.
Additionally, Pakistan is set to receive 1 billion dollars from the UAE, 500 million dollars from the Asian Development Bank, and 500 million dollars from the World Bank as part of the overall financing arrangement.