Karachi: State Bank of Pakistan (SBP) Deputy Governor Murtaza Syed revealed on Monday (August 22) that Pakistan will receive USD 2 billion from Qatar, news sources reported. The financing is provided as part of the bilateral assistance arrangement.
According to reports, Murtaza revealed this information during his briefing on the country’s impending financial demands and how the administration plans to satisfy them. He stated that the administration had obtained USD 1 billion in oil funding from Saudi Arabia and a similar amount from the United Arab Emirates (UAE) in investments. This will bring the overall financial requirement to USD 4 billion, the objective established by the International Monetary Fund (IMF), to deliver its financial assistance package’s seventh and eighth tranches.
It is worth noting that the IMF linked the disbursement of USD 1.29 billion to financial help from Gulf nations. The IMF is now expected to release the funds by the end of August to support the government in meeting the current account deficit (CAD).
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
