Pakistan Secures $8 Billion Saudi "Package" During Shehbaz Sharif Visit

Sunday, 1 May 2022Newsdesk

Pakistan, which is grappling with an economic slump, has secured a "sizeable package" of around $8 billion from Saudi Arabia during the visit of Prime Minister Shehbaz Sharif, reported local media.

New Delhi, 01 May 2022

As per news report of NDTV, The $8 billion package includes a doubling of the oil financing facility, additional money either through deposits or Sukuks, and rolling over of the existing $4.2 billion facilities, reported The News International. "However, technical details are being worked out and will take a couple of weeks to get all documents ready and signed," the media outlet quoted the top official sources privy to the development as saying. Notably, Shehbaz Sharif and his official entourage have left Saudi Arabia but Pakistan Finance Minister Miftah Ismail is still staying there to finalize the modalities of the increased financial package.

Source -NDTV