Sources in the finance minsitry claimed on Monday that Saudi Arabia has approved funding worth $2 billion which should help ease Pakistan’s economic woes.

Finance ministry sources also said that it has received positive news about $3 billion funding from other friendly countries.

Before leaving for America to participate in the IMF’s annual meeting on April 10, FM Ishaq Dar will also visit the United Arab Emirates.

However, things between the country and the IMF are not all sorted out as the Fund still has reservations about the Rs900 billion subsidies that the government wants to continue.

The IMF has also insisted on collecting Rs850 billion in petroleum levies and wants the government to take measures to cover up its tax shortfall. The Fund also wants the government to cut down on oil imports to reduce its import bill.

It has already been made public that the IMF team told Pakistani authorities that it would need assurances about funding from friendly countries before it can proceed with Pakistan’s bailout.