Pakistan News

PM Imran thanks Saudi Arabia for bailout package

ISLAMABAD: Prime Minister Imran Khan addressed the nation through a video message and took the masses into confidence over the $6billion Saudi bailout package and initiatives taken by his government to shore up the country’s economy.

 

The premier congratulated the nation and thanked Saudi Arabia for what he termed an “amazing package” to steer the country out of balance of payment crisis.

 

The PM maintained that had the government approached the International Monetary Fund (IMF) for bailout, it would have to accept conditions that would have resulted in an increased burden on the poor sections of society.

 

“We are making efforts to get monetary assistance from other friendly countries,” said the PM.

 

The PM expressed hope that now his government will not need to take a big loan from IMF.

 

Saudi Arabia on Tuesday agreed to provide Pakistan $3billion for a period of one year as balance of payment support. The Kingdom also agreed that a one year deferred payment facility for import of oil, up to $3billion, will be provided to Pakistan. This arrangement will be in place for three years, which will be reviewed thereafter.

 

‘No NRO’

About the opposition parties’ efforts for formation of an alliance against his government, the PM said that protest is their democratic right but categorically said that none will be allowed to evade accountability.

 

He said that Pakistan will play the role of an arbitrator or mediator in the Yemen war, assuring the nation that the country will never be used against any Muslim country.

 

“Pakistan is a country that can unite the Muslim world,” he concluded.

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