Pakistan is in advanced talks with Middle Eastern banks to secure $4 billion in loans, aiming to fulfill its external financing needs for the current fiscal year. These efforts are a part of a broader strategy to unlock a $7 billion bailout package from the International Monetary Fund (IMF).

Finance Minister Muhammad Aurangzeb recently conducted virtual meetings with executives from Dubai Islamic Bank (DIB) and Mashreq Bank to explore investment opportunities in Pakistan.

During these discussions, Aurangzeb highlighted the country’s ongoing economic stabilization efforts and the anticipated revival of commercial borrowing from the Middle East, which had previously been hindered by downgraded credit ratings.

Pakistan’s fiscal plan includes $20 billion in foreign borrowing for the current year, with $4 billion earmarked for commercial loans and an additional $1 billion to be raised through international bonds.

Both DIB and Mashreq Bank have shown strong interest in expanding their financial involvement in Pakistan, particularly in sectors such as infrastructure, energy, technology, and Islamic banking.