Unprecedented Saudi package to ease Pakistan’s economic woes: Imran Khan

ISLAMABAD, Oct 24 (APP):Prime Minister Imran Khan on Wednesday said the historic unprecedented package given to Pakistan by Saudi Arabia would ease its economic woes and hoped that it would not be a heavy burden if Pakistan needed to approach the International Monetary Fund (IMF) for further bailout package.
The prime minister, in his televised address to the nation after his return from a two-day visit to Saudi Arabia, was all praise for the Saudi leadership for their unprecedented support. The Saudi government had pledged a $6 billion package to ease out foreign debt payments and help overcome the current account deficit.
Prime Minister Imran Khan said Pakistan was back on the international stage as well as its stature restored after the Saudi leadership requested Pakistani leadership to play a role in ending the Saudi–Yemen conflict.
He said the government was under pressure to seek assistance from the IMF under tough conditions, which would have overburdened the people. That was why efforts were being made to approach friendly states for financial support and leaving his government with little option to approach the IMF.
He said talks were also underway with two other friendly countries in that regard and he would soon pronounce good news for the countrymen in the coming days. His government had been successful in its efforts to ease the balance of payment crisis, he added.
The prime minister said the government did not want to put pressure of the price-hike on the people, particularly the salaried class. His government had inherited an economy in a shambles, with balance of payment crisis from the past regimes. It was to pay installments of the inherited debts. It was compelled to take remedial measures otherwise the country would face default, he added.
About the Yemen issue, he said the Pakistan government was trying to play the role of a mediator in some way to end the fighting. Pakistan would play its role to unite all those states and in that regard he would break good news to the nation, he added.