In a huge relief to Pakistan, which is grappling with a major economic slump, the beleaguered nation has secured a “sizeable package” of around $8 billion from Saudi Arabia during the visit of Prime Minister Shehbaz Sharif, reported local media.
The generous $8 billion package from Saudi Arabia includes a doubling of the oil financing facility, additional money either through deposits or Sukuks, and rolling over of the existing $4.2 billion facilities, reported The News International.
“However, technical details are being worked out and will take a couple of weeks to get all documents ready and signed,” the media outlet quoted some top official sources privy to the development as saying.