PTI government to arrange $20 billion to bridge financial gap, boost foriegn reserves

PTI government to arrange $20 billion to bridge financial gap, boost foriegn reserves
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ISLAMABAD - Pakistan government has made plans for $20 billions funds from external sources for bridging the financial gap.

The government will arrange $20 billion from external sources to bridge the financial gap and to build the reserves for 2019, Pakistan informed International Monterey fund (IMF), Pakistan Today has reported.

Sources said that the government has evolved a comprehensive strategy to meet the financing needs of the country. The government will issue the diaspora, sukuk and euro bonds, besides getting loans from bilateral and multilateral organizations to meet the financial gap.

Sources said that the finance ministry has estimated that China will give around $1 billion while Saudi Arabia and the Islamic Development Bank (IDB) will provide $4 billion. In addition, Asian Development Bank (ADB) and World Bank would provide around $1.2 billion loans and $700 million through bonds.

Sources said that the government will also make commercial borrowing as well as arrange finance from friendly countries.

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