Minister for Finance and Revenue Senator Ishaq Dar said Wednesday he sees Saudi Arabia beefing up its deposits in Pakistan “within a matter of days, not weeks”, as the country grapples with an economic crisis.
The statement comes as a default risk looms over Pakistan, the rupee continues to depreciate against the US dollar, and forex reserves have plunged to record lows — covering merely a month’s imports.
Financial pundits, voicing concerns since the ouster of the previous government, say the country’s financial side will remain vulnerable until there is political stability.
The incumbent government has tried to get the International Monetary Fund (IMF) programme back on track and is attempting to complete the ninth review, however, the Fund and Islamabad have not made any headway so far.
In a press conference in Islamabad today alongside federal ministers, Dar said that the government was committed to completing the latest review and expressed hope of receiving the loan soon.
