Thursday, June 1, 2023

Pakistan’s Secures $13-14 Billion Financial Commitments from Friendly Countries, Ishaq Dar

Ishaq Dar Federal Minister for Finance and Revenue informed that the government has fulfilled financial commitment in order to meet country’s financing need of approximately $13 billion to $14 billion from neighbouring countries.

“In the coming twelve months, Pakistan has to pay back $22 billion to meet its multilateral and commercial liabilities. The country’s current account deficit is projected to be around $10 billion-12 billion, which needs to be paid back,” Dar said in an interview with a private channel on Monday night.

“However, we have covered half the mileage … we have secured financial commitments of around $13 billion to $14 billion, which includes commitments from China and Saudi Arabia,” said Dar, adding that he would visit UAE in the coming days.

Furthermore, he confirmed that deposits from Saudi Arabia and UAE plus swaps from China are also reserved in Pakistan’s foreign exchange.

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