ISLAMABAD – Federal Finance Minister Muhammad Aurangzeb has confirmed that Pakistan has requested a $10 billion facility from the United States, with progress on the request expected by September.
Speaking informally to the media in Islamabad, Aurangzeb said Pakistan had requested an Exchange Stabilisation Facility from the US.
He said the request was currently with the US Treasury Department and that Pakistan expected developments on the matter by September.
The finance minister added that work was also underway to extend the maturity period of bilateral loans, with Pakistan seeking to extend their repayment period to 10 years.
Aurangzeb said several options were being considered in this regard, while talks were ongoing with the US Export-Import Bank (EXIM Bank), the China Development Fund (CDF) and other institutions.
