ISLAMABAD, May 2 — Pakistan and Saudi Arabia yesterday said they would discuss extending the terms of a US$3 billion loan to help Islamabad’s faltering economy.
The latest sign of support follows a visit to Saudi Arabia by new Prime Minister Shehbaz Sharif, who has inherited a crippling national debt, galloping inflation and a feeble rupee. Saudia Arabia also pledged “to further enhance the financing of petroleum products” at a time when the South Asian country is suffering from frequent power cuts.
“But for how long will we run our economy on loans? This policy is not going to work even for the next five years.”
Shahidmasooddr
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