Pakistan to seek $5 billion from other sources over and above IMF bailout package of $12 billion
Shares
ISLAMABAD – Finance Minister Asad Umar on Tuesday revealed that Pakistan would be seeking additional $5 billion over and above the IMF package.
Pakistan would take bailout package worth upto $12 bln from International Monetary Fund (IMF) to ‘restore confidence of investors in the market’.
Umar revealed that Pakistan would get aforementioned amount for span of three years under IMF’s extended credit facility. “IMF’s delegation would arrive in Pakistan on November 7.
Besides bailout package, Pakistan would acquire another $5 billion from Asian Development Bank (ADB) and World Bank (WB)”, Umar was quoted as saying.
“Pakistan will put forward all-inclusive plan before IMF’s delegation. We [federal govt] aren’t taking all initiatives on directives of international monetary body”, Umar told Khan.