The government sources have reported key development in US dollar three billion financing demand made by the IMF from Pakistan for a bailout package.
According to sources in the finance ministry, the Kingdom of Saudi Arabia has permitted the two billion dollar financing.
The UAE’s leadership will be contacted by the minister of finance before his April 10 travel to the US, according to sources.
To comply with IMF requirements, Pakistani governance had spoken with Saudi Arabia and the United Arab Emirates (UAE). (IMF).
To comply with the IMF request, representatives from the Prime Minister’s Office and the Finance Ministry called Saudi Arabian and UAE officials.
The IMF had required the Pakistani government to obtain a written assurance for the deposit from the neighboring countries.
Earlier, sources claimed that Saudi Arabia and the UAE wanted more time to reassure the IMF about the payment.
According to sources at the finance ministry, “the IMF also have objection over annual 900 billion rupee subsidies.”
According to additional sources, the international lender is also firm about receiving the 850 billion rupee petroleum levy collected and addressing the deficit in taxes and the petroleum levy.