Islamabad: Pakistan plans to roll over a USD 12 billion loan from friendly countries to cover external financing needs for FY2024-25, as reported by a news source on May 10.
As per the details, Pakistan needs PKR 23 billion in external financing for the upcoming FY2024-25, and in this context, Islamabad has reportedly decided to seek rollover of USD 12 billion loan from friendly countries including Saudi Arabia, United Arab Emirates and China.
Sources from the finance ministry indicate that Pakistan plans to seek rollovers for loans from Saudi Arabia (USD 5 billion), China (USD 4 billion), and the United Arab Emirates (USD 3 billion) to meet next year’s external financing needs.
The government has also hastened preparations for budget targets before the IMF mission’s arrival. In response, the Ministry of Finance has instructed relevant ministries to swiftly complete these targets.
As a graduate in English Literature, Zohaib believes that words are not just a mere figment of imagination. It takes wisdom to be good at them. Following this reason, he is pursuing his career as Public Relations and Content Specialist at Zameen.com.
