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Pakistan to get some financial assistance from Saudia Arabia


New Delhi, Sep 14: Pakistan is grappling to deal with a severe economic crisis that it is facing at the moment. The country needs at least $12 billion to bring the country out of the financial mess that it is in. The country has failed to generate resources from within in all these years due to its weak tax net forcing it to look for loan, add and other means to boost it economy.

Pakistan to get some financial assistance from Saudia Arabia

Strategic experts have been saying that Pakistan can get money either from China or from International Monetary Fund (IMF) or from the gulf countries like Saudi Arabia. So in one such arrangement Prime Minister of Pakistan Imran Khan may visit Saudi Arabia in a few days but Saudi Arabia will not give the money to Pakistan to spend it. A big money will be deposited in the Pakistani account however Pakistan will not be able to use it for any purpose. But this will help the country to increase its foreign currency reserve and dollar rate may come down.

Also Read | Pakistan to send troops to Saudi Arabia

Experts say this will at least help Pakistan to reducing its import bill. A strategic expert Dhruvjyoti Bhattacharya told One India: "Since the Pakistan Tahrik e Insaf (PIT) led by Imran Khan does not have majority in National Assembly it has to depend on others for many things and otherwise also interference of radical groups in the matter of economic issue is making things difficult for the government. The foreign economic advisors were selected by them. One of the economic advisors resigned his own while the other was forced to go for being Ahmadia Muslim."

As per experts, Saudi Arabia will deposit $8-10 billion in its account after the Pakistan decided not to contact IMF for any relief in the form of loan. IMF was not ready to give any money to Pakistan unless with some assurance one such being this money will not be used in redeeming Chinese debt. Sources said that Pakistan Prime Minister is likely to visit Saudi Arabia and China very soon where details of this financial help will be discussed and confusion between the present government and China on China-Pakistan Economic Corridor (CPEC) also will also be discussed.

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