In an address to the nation last night, Prime Minister Khan argued that the loan arrangement and deferred oil payments he has secured from Saudi Arabia will reduce the quantum of money Pakistan needs from the IMF and, therefore, the country will be able to negotiate better terms with the Fund.
Pakistan Prime Minister Imran Khan, while addressing the nation after returning from Saudi Arabia Wednesday stated that the $6 billion bailout package that the Saudi leadership had given was "a big relief" for Pakistan, Dawn online reported. An IMF team is due to visit Pakistan to open negotiations on November 7. He said the country's debt was Rs 6,000 billion in 2008 which ballooned to Rs 30,000 billion in 2018. An IMF delegation is expected in Pakistan next month. We were under high pressure to pay heavy debts.
Saudi King Salman bin Abdulaziz on Tuesday met with Pakistani Prime Minister Imran Khan at Riyadh's Al-Yamamah Palace, with whom he discussed bilateral ties and regional developments.
The former cricketer-turned-politician - took over the office of Prime Minister in August this year - had said that he wants to solve the pending differences with India through progressive dialogues.
Cash-strapped Pakistan has already announced plans to cut a United States dollars 8.2 billion railway project between the Karachi and Peshawar the biggest under the CPEC by about USD 2 billion to reduce the debt burden.
US Secretary of State Mike Pompeo has signalled major reservations about the International Monetary Fund granting Pakistan another bailout as Islamabad assumes billions of dollars in debt for the CPEC, a multi-billion dollar series of Chinese funded infrastructure projects.
Dog pretends to be stray for McDonalds burger
Reyes drove to the parking lot of McDonald's on a recent evening, where she caught her dog waiting to bed fed by other customers. When Reyes pulled over her auto , Princess immediately recognised her and started wagging her tail, stated the report.
After his visit to Beijing, the Prime Minister will visit Shanghai to participate in First China International Import Expo in Shanghai, where Pakistan is exhibiting a wide range of export products.
The benchmark KSE 100 index of the Pakistan Stock Exchange gained 1,556 points or 4.13 per cent in intra-day trading to push the index to 39,271 points.
"The facility of oil on deferred payments would be for three years", the Pakistani Foreign Ministry said in a statement.
The main reason Pakistan is in a crunch situation right now is that the loans the country took from China to finance CPEC projects added to its already considerable debt burden.
The second major announcement he made was that cricket-turned politician would mediate between Saudi Arabia and Yemen to end their ongoing conflict. Finance Minister Asad Umar has said Pakistan may need more than $12 billion to plug its finances as the current-account deficit widens and foreign-currency reserves plummet.