ISLAMABAD: Pakistan has been given a green signal by friendly countries to provide investment and funding, ARY News reported on Friday, quoting well-placed sources.
According to sources within the finance ministry, there have been positive indications of an economic package worth $8 billion from friendly countries, among these friendly countries China, Saudi Arabia, United Arab Emirates, and Qatar are leading.
They further say that significant progress has been made in the negotiations between Pakistan and Saudi Arabia, and there is a possibility of doubling the oil facility on deferred payment from Saudi Arabia.
The oil facility will increase from 1.2 billion dollars to 2.4 billion dollars, there is also a possibility of getting safe deposits from Saudi Arabia.
Minister of State Ayesha Ghous Pasha said that the brotherly country has informed Pakistan in this regard, but the official announcement will be made by it.
She said China has so far rolled over $4.3 billion in debt, including $2.3 billion in commercial loans and $2 billion in deposits.
Meanwhile, foreign exchange reserves of the State Bank of Pakistan (SBP) declined by $190 million during the week ended on July 29.
Sharing a break-up of the foreign reserves position, the central bank said that the reserves held by the State Bank of Pakistan stand at $8,385.4 million.