*ISLAMABAD – In order to counter the plummeting foreign reserves, Pakistanis eyeing to borrow more than $4 billion from the Saudi-backed IslamicDevelopment Bank (IsDB).*

*Financial Times, *quoting anonymous sources, reported that theJeddah-based bank has agreed to make a formal offer to lend Islamabad themoney when the prime minister-in-waiting Imran Khan takes over the reins incoming weeks.

The officials were of the view that they expect Asad Umar, pinned to becomethe next finance minister, to accept the offer. “The paperwork is all inplace,” said a senior adviser. “The IsDB is waiting for the electedgovernment to take charge before giving their approval.”

Earlier, Umar had revealed that the country is facing a shortfall of $2billion a month. “We are facing a significant current account crisis, it’swell-known, well-document,” said Umar, while addressing a US think-tank inIslamabad.

“From the time when the Pakistan Muslim League – Nawaz came in power fiveyears back, the current account deficit of $2bn a year, to a situationwhere in the last three months we have been running a current accountdeficit of $2bn a month,” he added.