Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Informed source to Al Mayadeen: SDF Commander-in-Chief Mazloum Abdi demands that al-Sharaa approve the establishment of an autonomous region similar to the Kurdistan Region of Iraq.
Israeli media: Three drones launched from Yemen toward Eilat in span of 20 minutes.
Qatari Foreign Ministry: "Israel" should have already ceased fire under Trump plan for Gaza
Qatari Foreign Ministry: Release of Israeli captives will mark end of war in Gaza in accordance with Trump plan.
Israeli media: Security incident in Gaza Strip classified as serious results in six wounded soldiers so far, two critically injured.
Al Mayadeen's correspondent in South Lebanon: Israeli drone strike targets vehicle in Deir Ames, Tyre governorate.
Lebanese Ministry of Health: Final toll from airstrike on car in Zebdine, Nabatieh District: Two martyrs, four injured
Egyptian media: Indirect talks between Hamas and Israelis begin in Sharm el-Sheikh.
AFP: France's new PM Sebastein Lecornu resigns just hours after unveiling cabinet.
Trump: Technical teams will meet again on Monday in Egypt to discuss and clarify the final details, and the first phase is scheduled to be completed this week

Pakistan Finance Minister discusses potential Saudi bailout of $3bln

  • By Al Mayadeen English
  • Source: Agencies
  • 6 Jan 2023 17:15
  • 1 Shares
3 Min Read

Pakistan has requested Saudi Arabia to urgently provide $3 billion in cash after its foreign exchange reserves fell to a critically low level.

  • x
  • Dar Hopeful Of Second Bailout From Saudi Arabia
    Dar Hopeful Of Second Bailout From Saudi Arabia

At his longest press conference ever delivered since October 2022, Pakistan's Finance Minister Ishaq Dar said on Friday that Pakistan is expected to receive a second $3 billion bailout from Saudi Arabi "within days". 

He further pledged to increase Pakistan's foreign reserves by raising money through the "sale of assets."

Dar delivered this statement in response to the Pakistan Tehreek-e-Insaf’s (PTI) white paper, which severely criticized the government’s poor economic performance.

PTI issues white paper on economy backed by hard evidence. PDM's response is only mud-slinging. Incompetence galore in Islamabad! pic.twitter.com/rwm7hYLV9o

— Hasaan Khawar (@hasaankhawar) January 4, 2023

During his address, Dar reiterated his support for the IMF Programme while reassuring that the Ministry will not take further steps to burden the people. 

He did not confirm clearly whether the National Security Committee (NSC) had also decided to back the IMF program. 

Read more: 5 Pakistani soldiers killed in IED explosion in Balochistan

Related News

Pakistan’s top diplomat visits Dhaka after 12-year gap

China backs Afghan recovery, eyes CPEC expansion into region

Dar was in the company of the government's economic team, which included Planning Minister Ahsan Iqbal, Energy Minister Khurram Dastgir Khan, Economy Minister Ayaz Sadiq, Information Minister Marriyum Aurangzeb, and State Minister for Finance Aisha Ghaus Pasha.

"God willing, in matters of days, Saudi Arabia will beef up reserves," said Dar.

Over the past three months, the Finance Minister said Saudi Arabia would provide Pakistan with another $3 billion after it had already provided one in the past year. 

Sources familiar with the matter say the decision is now pending before the Saudi King for a final decision. 

The gravity of the economic situation has prompted Pakistan's civil-military leadership to discuss the matter seriously in the past week.

Read more: 'India vulnerable; China, Pakistan together': Gandhi warns

Pakistan's foreign exchange reserves are quickly running out because US dollars are being smuggled into Afghanistan without any restrictions, as per Pakistani media. This has forced Islamabad to put strict rules on imports and foreign currency transactions.

The fast-depleting reserves turned worse last month when the State Bank of Pakistan's (SBP) reserves dropped to an alarming level of $6 billion, the lowest since April 2014. The liquid foreign reserves held by the country stood at $12 billion as of December 16, including $5.88 billion held by commercial banks operating in the country.

To stop the alleged flow of money to Afghanistan, the authorities quickly began a full-fledged operation in the nation's largest cities. The Federal Investigation Agency (FIA) was dispatched to raid major cities, particularly Peshawar, which is close to the Afghan border, in a major effort to prevent people from smuggling money, especially dollars.

  • Saudi Arabia
  • Ishaq Dar

Most Read

Iraq at a crossroads: A new war front?

Iraq at a crossroads: A new war front?

  • West Asia
  • 30 Sep 2025
Tucker Carlson speaks at a memorial for Charlie Kirk, Sunday, September 21, 2025, at State Farm Stadium in Glendale, Arizona (AP)

Tucker Carlson: Israeli officers gave orders on Iran inside Pentagon

  • Politics
  • 2 Oct 2025
A Hamas fighter in combat fatigues stands before the ceremony for the handover of Israeli captives to the Red Cross in Nuseirat, central Gaza Strip, Saturday, February 22, 2025 (AP)

Hamas responds to Trump plan, backs Gaza withdrawal, exchange

  • Politics
  • 3 Oct 2025
ap

'Israel' pays influencers $7K per post to whitewash Gaza genocide

  • Politics
  • 1 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Hezbollah's representative in Iran, Sayyed Abdullah Safieddine, during an interview with Al Mayadeen which aired on October 6, 2025 (Al Mayadeen)
Politics

Tehran never interferes in Hezbollah decisions: Representative in Iran

Smoke billows over the Gaza Strip following an Israeli bombardment, as seen from southern Palestine, Sunday, Oct. 5, 2025. (AP)
Politics

Indirect talks for a ceasefire in Gaza begin in Sharm El-Sheikh

Fighters from the Syrian Democratic Forces (SDF) prepare to attend a military parad in Qamishli, northeastern Syria, Tuesday, August 12, 2025 (AP)
Politics

Security forces seal Aleppo’s Sheikh Maqsoud, Ashrafieh districts

Amsterdam Captain Mohammed Ali Mohiuddin, who took part in the Global Sumud mission to Gaza, talks to Al Mayadeen on October 6, 2025 (Screengrab)
Politics

GSF captain says despite abuse, 'Israel weaker than spider's web'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS