Islamabad: To address country’s ongoing economic challenges, Pakistan is actively negotiating for continued financial assistance and debt extensions from key Middle Eastern partners. The government has formally asked Saudi Arabia to extend US$ 1.2 Billion Oil Facility, for additional two years to align with the country’s IMF program. Simultaneously, Pakistani officials are working to secure a rollover of US$ 2 Billion deposits currently placed by the United Arab Emirates with SBP for maintenance of Foreign Exchange Reserves.
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