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16:44 Apr 28, 2026
ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Tuesday the government had no plans to seek more bilateral financing from friendly countries and that Pakistan’s external position had stabilised following recent inflows from Saudi Arabia. The minister made these remarks on sidelines of the first high-level EU Pakistan Business Forum in Islamabad, organised by the European Union in collaboration with the government of Pakistan, marking a key step in strengthening bilateral economic ties. He said after securing $3 billion from Saudi Arabia, that there was no need for additional financing. Recently, Saudi Arabia had pledged an additional $3bn in deposits for Pakistan and extended its existing $5bn facility for a further three years. Subsequently, Pakistan received $2bn from the kingdom on April 15 and another $1bn on April 21 under the arrangement. Aurangzeb said the government was now shifting its focus towards commercial borrowing rather than bilateral financing. He said the government was set to issue a...