Pakistan is in advanced talks with Middle Eastern banks to secure $4 billion in loans to meet its external financing requirements for the current fiscal year.
This effort is based on unlocking the $7 billion bailout from the International Monetary Fund (IMF).
Finance Minister Muhammad Aurangzeb held virtual meetings with executives from Dubai Islamic Bank (DIB) and Mashreq Bank to discuss investment opportunities in Pakistan.
Aurangzeb emphasized Pakistan’s economic stabilization efforts and the expected resumption of commercial borrowing from the Middle East, which had stalled due to downgraded credit ratings.
Pakistan’s budget includes $20 billion in foreign borrowing for the ongoing fiscal year, with $4 billion specifically targeted through commercial loans and $1 billion via international bonds. Both DIB and Mashreq Bank expressed strong interest in increasing their financial involvement in Pakistan particularly in sectors such as infrastructure, energy, technology, and Islamic banking.