To restore the country’s economy, the caretaker government has asked China and Saudi Arabia for 11 billion dollars.

Caretaker Finance Minister Dr. Shamshad Akhtar disclosed this information on Thursday during the meeting of the Senate Standing Committee on Finance and Revenue.

The meeting was held under the chairmanship of Senator Saleem Mandviwala.

Pakistan hopes to get $700 million from the IMF, but its needs are far greater. Dr. Shamshad Akhtar told the committee that 11 billion dollars have been requested from Saudi Arabia and China, besides oil facility has also been requested from Saudi Arabia.

The caretaker government has also stated that the government is trying to increase the tax net on retail, agriculture and real estate sectors. The same has been said in the economic outlook prepared by the government.

Dr. Shamshad Akhtar said that the federal government is also considering transferring some part of the Benazir Income Support Program to the provinces so that the burden on the federal government can be reduced.

The finance minister said that the mandate of the caretaker government is limited but it will implement the reforms that are necessary for the principle of the next tranche of loans from the IMF.

According to Dr. Shamshad Akhtar, under the current agreement with the IMF, Pakistan should soon bring its foreign exchange reserves to $9 billion, while these reserves should be $12 billion by June 2024.