Saudi Arabia has indicated that it might refuse a rollover of $2 billion to Pakistan. Islamabad has already started exploring options to manage the amount from other avenues to avert the dwindling foreign currency reserves. On the issue of $2 billion loan deposits from the UAE, there is no new development so far, as its maturity will become due after a couple of months.

Official sources confirmed on Monday that Islamabad had forwarded a formal request for granting a rollover of $2 billion to the Kingdom of Saudi Arabia with the hope that this arrangement would continue for another year under the requirement of the IMF programme. The formal response is still being awaited from KSA, official sources said.

The Pakistani authorities are expecting that KSA’s top leadership would give a formal response within the next few weeks. After the recent posting of Special Secretary Finance Mohsin Chandana to the Communication Ministry, the Ministry of Finance has not yet notified the appointment of an official spokesman to talk about the issue.

https://www.thenews.com.pk/print/741712-pakistan-may-not-get-2-bn-rollover-from-saudi-arabia