Pakistan Finance Ministry seeks $4.2 billion from Saudi Arabia

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Pakistan Finance Minister seeks $4.2 billion from Saudi Arabia
Pakistan Finance Minister seeks $4.2 billion from Saudi Arabia
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Finance Minister Ishaq Dar on Thursday sought $4.2 billion from Saudi Arabia after foreign exchange reserves were extremely low.

According to sources, Federal Finance Minister Ishaq Dar requested that Saudi Arabia immediately provide a package of 4.2 billion dollars to Pakistan.

Oil and fertilizers
Sources said the government will buy $1.2 billion worth of oil and fertilizer from Saudi Arabia on deferred payments.

This request has been sent to Crown Prince Mohammed bin Salman.

Decrease in foreign exchange reserves
The country’s foreign exchange reserves fell to $6.7 billion for the first time since January 2019. This is not enough to cover principal and interest payments of $8.8 billion during the current fiscal year.

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