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Your email address will not be published.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

Fitch downgrades Pakistan’s rating

Fitch Ratings downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-”…

Gold price in Pakistan falls

Gold prices in Pakistan witnessed a steep decline on Tuesday amid ongoing…

Textile sector suffers $70m loss after power breakdown

The textile sector suffered a massive financial loss worth $70 million after…