Saudi Arabia makes green signal for $2bn funding
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Saudi Arabia makes green signal for $2bn funding
ISLAMABAD (Dunya News) – The Saudi green signal for two billion dollar funding provides breathe of ease for the estranged Pakistani economy.
According to the sources in Finance ministry, a breakthrough has been achieved regarding three billion dollar funding by friendly countries. Finance Minister Ishaq Dar will contact the UAE authorities before leaving for USA on April 10th.
However, IMF still have reservations regarding Rs.900bn annual subsidy and demands an increase in interest ratio, according to the inflation. Moreover, the organization is still adamant on the demand of collecting Rs.850bn from petroleum levy.
The sources said that IMF has demanded reduction in petrol and diesel imports, also they are asking to cover up the shortfall in petroleum levy and taxes.
