‘Friendly country’ donates $1.5b to Pak Fund: Dar

In a rare acknowledgement, Finance Minister Ishaq Dar on Wednesday said that a friendly Muslim nation gave $1.5 billion for the Pakistan Development Fund (PDF) but refrained from disclosing the lender’s name.

By Our Correspondent

Published: Fri 14 Mar 2014, 9:17 PM

Last updated: Sat 4 Apr 2015, 1:38 AM

“A friendly Muslim country has confidence in Pakistan and its leadership and deposited $1.5 billion in the PDF,” he said. When asked if it was Saudi Arabia, Dar declined to disclose the name.

Speaking at a Press conference, an unusually upbeat Dar claimed that PDF contributions, actions against exporters who were withholding export receipts abroad and warnings to exchange market speculators, helped recoup the depleted foreign currency reserves to $9.52 billion.


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