Pakistan seeks $11 bn from China, Saudi

Islamabad, September 29

Cash-strapped Pakistan is seeking around USD 11 billion from China and Saudi Arabia as part of efforts to fill external and domestic resource gaps so that the IMF bailout programme remains on track to ensure economic stability until an elected government is formed in the country, according to a media report on Friday.

It comes amid the caretaker government’s push for expanding the tax net effectively to retail, agricultural and real estate sectors while continuing a crackdown on illegal currency movements.

A media report stated that this information was part of a detailed policy statement issued by caretaker Finance Minister Shamshad Akhtar before the Senate Standing Committee on Finance and Revenue in Islamabad on Thursday.