Islamabad: Sources revealed that Pakistan would likely secure a multi-billion dollar financial support package from longtime ally Saudi Arabia this month. The two finance ministry officials said the package would include deposits boosting the country’s foreign reserves, and oil on deferred payments. Minister for Finance and Revenue Senator Ishaq Dar, earlier during a press conference, hoped that talks with Saudi Arabia would materialise soon — and Pakistan would not “default”.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Brazil’s former president bids to start trade with EU

Sao Paulo: On July 27, Brazil’s presidential frontrunner Luiz Inacio Lula da…

ECC approves increase in gas prices

Islamabad: The Economic Coordination Committee (ECC) approved the increase in the prices…

IMF rejects Pakistan’s initial proposal on fuel subsidy

The International Monetary Fund (IMF) has rejected Pakistan’s initial proposal for subsidy…

Stocks gain 452 points on expected IMF deal

Shares at the Pakistan Stock Exchange (PSX) witnessed a bullish trend in…