China, Saudi Arabia assure Pakistan of $13b financial package

It will take care of Pakistan’s financial requirements till June 2023
<p>Photo: SAMAA/file</p>

Photo: SAMAA/file

Federal Finance Minister Ishaq Dar has said that China and Saudi Arabia have assured Pakistan $13 billion financial package

Dar on Friday stated that both the countries will take care of Pakistan’s financial requirements till June 2023.

During an informal chat with journalists, Ishaq Dar said that Chinese and Saudi leaders have assured Prime Minister Shehbaz Sharif of their full support and cooperation.

The minister disclosed that Pakistan will get commercial loans worth $3.3 billion from China with additional financing of $1.45 billion contributing to the $8.8 billion package for the current fiscal year 2022-23.

Whereas, an additional amount of $4.2 billion is likely to be received from Saudi Arabia.

In addition to the financial package, Dar confirmed that Saudi Arabia would also build a Petrochemical Complex in Gwadar and China has shown interest in several development initiatives in Pakistan including ML-1 Railway track and Karachi Circular Railway (KCR).

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