From Friendly Nations, Pakistan Receives The “Green Light” For A $8 Billion Package
From Friendly Nations, Pakistan Receives The “Green Light” For A $8 Billion Package
August 5, 2022 / By Zunair Tahir / Pakistan News
ISLAMABAD: According to reliable sources cited by ARY News on Friday, friendly nations have given Pakistan the go-ahead to receive investment and money.
Sources in the finance ministry claim that there have been encouraging signs of a $8 billion economic package from friendly nations, with China, Saudi Arabia, the United Arab Emirates, and Qatar heading the pack.
They add that there has been tremendous progress in the talks between Pakistan and Saudi Arabia and that there is a chance that the oil facility might double with Saudi Arabia deferring payment.
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The oil facility’s budget would rise from 1.2 billion to 2.4 billion dollars, and Saudi Arabia may provide safe deposits as well.
Ayesha Ghous Pasha, a minister of state, stated that although the friendly nation notified Pakistan in this respect, it would be making the formal statement.
She said that up to this point, China has rolled over $4.3 billion in debt, which includes $2.3 billion in commercial loans and $2 billion in deposits.
During the week that concluded on July 29, the State Bank of Pakistan’s (SBP) foreign exchange reserves fell by $190 million.
The State Bank of Pakistan now holds $8,385.4 million in foreign reserves, according to a breakdown provided by the central bank.
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