ISLAMABAD: Pakistan will receive one billion dollars from Saudi Arabia in the next two days, said Federal Minister for Finance, Revenue and Economic Affairs, Asad Umar, while talking to a group of foreign investors and industrialists in Karachi on Saturday.
The finance minister had recently expressed his satisfaction at the country’s balance of payment situation in a news conference after his return from China where he was accompanying the prime minister.
Prior to that, the Pakistan Tehreek-e-Insaf (PTI) government had claimed that the country was on the verge of bankruptcy after winning the last general elections.
It had also pledged to reach out to a host of friendly countries and secured a $6 billion relief package from the Saudi Arabia.
Currently, Pakistan is negotiating a bailout package with the International Monetary Fund (IMF), though the country’s economic managers feel more confident about dealing with the global financial institution after getting financial assistance from the Kingdom and anticipating more funds from China.
The finance minister also pointed out while addressing the Overseas Chamber of Commerce in the port city of Karachi on Saturday that the non-banking channels of money transfer had ruined the country financially and undermined its economic interests.
Other than that, he informed his audience that the government was setting up tax courts for speedy trials, adding that lawsuits worth billions of rupees remained pending in regular courts.
