ISLAMABAD: The Kingdom of Saudi Arabia hinted at provision of $2 billion funding to the government to help Pakistan secure IMF deal, the sources in the Finance Ministry said on Wednesday.
The sources said that the UAE leadership would also be contacted for their support.
The funding is crucial for Pakistan at the moment as the IMF deal is not mature year and the international lender had earlier demanded the guarantors for the deal.
Pakistan sought help of Saudi Arabia and United Arab Emirates to meet the conditions of the IMF for stalled programme.
According to a local private TV channel, the sources claimed that key development took place in the US dollar three billion finance demand that was made by the International lender for bailout package.
The sources said that Finance Minister Ishaq Dar would visit UAE on April 10 to take the leadership into confidence.
The Pakistani government had approached Saudi Arabia and the United Arab Emirates (UAE) to meet the conditions of the International Monetary Fund (IMF).
The reports suggested that the Saudi Arabia and UAE had conveyed to Pakistani government to give some time to give assurance to the lender about the deposit.
The IMF had earlier objected to annual 900 billion rupees subsidies and asked the government to collect Rs850b petroleum levy.
Two days ago, Prime Minister Shehbaz Sharif while addressing on the floor of the house said that the deal between Pakistan and IMF was near as both sides were holding talks just on one condition. He claimed that the deal would be finalized soon.
