Naveed 
Pakistan got Financial commitment of $1 billion from United Arab Emirates. A written agreement of this financial commitment is also expected in this week. The Finance and Revenue Minister of Pakistan Ishaq Dar requested UAE officials to make the deal this week.
The financial aid commitment from brotherly country UAE will ease the way for unlocking $1.3 billion bailout package from International Monetary Fund (IMF). IMF was waiting for Pakistan to get financial assurance from friendly countries to get the loan.
Read more | UAE Economy to grow more Faster Next Year: IMF
The final agreement of UAE providing financial aid to Pakistan will be signed on written documents in ongoing week. This news of financial commitment will be conveyed to Fund officials of IMF by Finance secretary Hamed Yaqoob Sheikh during annual meeting going on in Washington.
The International Monetary Fund (IMF) asked Pakistan to get financial assurance from friendly countries to get balance of payments gap and for getting bailout package from institute.
The development of United Arab Emirates giving Financial commitment to Pakistan comes after Prime Minister Shahbaz Shareef and Finance Minister Ishaq Dar requested UAE officials to complete the prerequisites of the fund.
$2bn from Saudi Arabia
Pakistan also received $2 billion from Saudi Arabia and moved one step closer to the revival of bailout package from International Monetary Fund (IMF).
The loan deal with IMF is yet to be finalized despite the impose of additional taxes and increased energy prices, the Nation already missed multiple chances to lock the deal with IMF due to lack of meeting deadlines.
The Washington Base fund lender asked Pakistan to get aid from friendly countries in order to fully secure the final bailout package for ongoing fiscal year.
Saudi Arabia announced to give $2 bn aid to Pakistan but final official statement is yet to be make by Saudi Kingdom in this regard. It is expected that Saudi government will announce this financial commitment in upcoming Umrah visit of PM Shahbaz Shareef to Saudi Arabia.
The deals with UAE and Saudi Arabia will help Pakistan to reach the staff-level agreement with International Monetary Fund (IMF). It is expected that Finance Minister Ishaq Dar will pay a visit to UAE on his way to UAE to talk about the loan deal.
The economic situation of the country could worsen if the deal with IMF bailout is delayed further, while the IMF representative said that Pakistan has a few more tasks to complete for meeting the requirements of $6.5 billion bailout.
Read more | Petroleum Relief Package
Recently IMF also demanded reduction in petrol and diesel imports of country, and they are also asking for increase in petroleum levy and taxes to overcome the downfall.
