{"id":324061,"date":"2023-04-06T03:27:27","date_gmt":"2023-04-05T22:27:27","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=324061"},"modified":"2023-04-06T03:27:27","modified_gmt":"2023-04-05T22:27:27","slug":"ksa-signals-funding-of-2b-to-pakistan-on-imf-demand","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/","title":{"rendered":"KSA signals funding of $2b to Pakistan on IMF demand"},"content":{"rendered":"<p> ISLAMABAD<br \/>\nPakistan\u2019s economy is set to receive a much-needed boost as Kingdom of Saudi Arabia has given the green signal for funding worth $2 billion. The development comes amidst significant progress in financing worth $3 billion from friendly countries.<br \/>\nSources in the finance ministry confirmed that Saudi Arabia has given the green signal of financing $2 billion to Pakistan. Minister of Finance Ishaq Dar before his US visit on April 10, will also contact the UAE leadership, sources said.<br \/>\nThe Pakistani government had approached Saudi Arabia and the United Arab Emirates (UAE) to meet the conditions of the International Monetary Fund (IMF). The Prime Minister\u2019s Office and Finance Ministry officials had contacted the Saudi Arabian and UAE officials to meet the IMF demand.<br \/>\nThe IMF had demanded of Pakistani government to get a written guarantee from the friendly countries for the deposit. Sources earlier said that Saudi Arabia and UAE had sought some time to assure the IMF regarding the deposit. \u201cThe IMF also have objection over annual 900 billion rupees subsidies,\u201d sources at finance ministry said.<br \/>\nThe global lender also insisting on its demand for collection of 850 billion rupees petroleum levy and addressing shortfall of the petroleum levy and taxes, sources added. In the last week of March, China rolled over its safe deposit of $2 billion on the existing terms as the country\u2019s foreign exchange reserves remain stabilized.<br \/>\nSources said that the deferment of payment has been done for a year. Earlier this week, Minister of State for Finance and Revenue, Ayesha Ghous Pasha, stated that the IMF was verifying external financing from friendly countries such as China, UAE, and Saudi Arabia.<br \/>\nNotably, the IMF remains concerned about Pakistan\u2019s economic policies, with objections to the annual subsidy of Rs900 billion and insistence on further interest rate increases to keep pace with inflation.<br \/>\nAdditionally, sources informed that the IMF is demanding the collection of Rs850 billion rupees under petroleum levy and has called for a reduction in the import of petrol and diesel. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD Pakistan\u2019s economy is set to receive a much-needed boost as Kingdom of Saudi Arabia has given the green signal for funding worth $2 billion. The development comes amidst significant progress in financing worth $3 billion from friendly countries. Sources in the finance ministry confirmed that Saudi Arabia has given the green signal of financing [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-324061","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-top-news"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>KSA signals funding of $2b to Pakistan on IMF demand<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KSA signals funding of $2b to Pakistan on IMF demand\" \/>\n<meta property=\"og:description\" content=\"ISLAMABAD Pakistan\u2019s economy is set to receive a much-needed boost as Kingdom of Saudi Arabia has given the green signal for funding worth $2 billion. The development comes amidst significant progress in financing worth $3 billion from friendly countries. Sources in the finance ministry confirmed that Saudi Arabia has given the green signal of financing [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-05T22:27:27+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script 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The development comes amidst significant progress in financing worth $3 billion from friendly countries. Sources in the finance ministry confirmed that Saudi Arabia has given the green signal of financing [&hellip;]","og_url":"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/","og_site_name":"Daily Lead Pakistan","article_publisher":"https:\/\/www.facebook.com\/DailyLeadPak\/","article_published_time":"2023-04-05T22:27:27+00:00","author":"Web Desk","twitter_card":"summary_large_image","twitter_creator":"@DailyLeadPak","twitter_site":"@DailyLeadPak","twitter_misc":{"Written by":"Web Desk","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/#article","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/ksa-signals-funding-of-2b-to-pakistan-on-imf-demand\/"},"author":{"name":"Web Desk","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62"},"headline":"KSA 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