During Prime Minister Shehbaz Sharif’s three-day visit to Saudi Arabia, Pakistan is expected to seek $3.2 billion in additional funding.
The premier is anticipated to propose an additional $3.2 billion package on top of the $4.2 billion package, bringing the total package to $7.4 billion.
The latest $4.2 billion package includes $3 billion in cash contributions and a $1.2 billion finance agreement for the import of oil on deferred payments, according to Finance Ministry officials. Pakistan will request that Saudi Arabia double the present cash deposit to $5 billion and quadruple the oil facility from $1.2 billion to $2.4 billion.
Prime Minister Shehbaz Sharif will also ask for a one-year extension of the present $4.2 billion programme. The conditions of the prior 2021 deal are expected to be renegotiated as well.
Shehbaz Sharif is on his first international trip as Pakistan’s Prime Minister. The premier will also undertake bilateral meetings, accompanied by a high-level group that includes senior cabinet members.