The Senate has been informed that the way for the Pakistan Tehreek-e-Insaf (PTI) government to implement its reforms agenda is clear now that the short- and medium-term balance of payments crisis had been averted.
Winding up discussion on the terms and conditions of the foreign loans obtained or being obtained, Minister of State for Finance Hammad Azhar said on Monday that there was an immediate balance of payments crisis when the present government took over.
He, however, said that Pakistan is out of the woods now, with a support package from Saudi Arabia and the commitment from China to bridge the gap.
Azhar added that modalities for the support from China are being worked out.
The minister also disclosed that data of 96,000 offshore account holders from Pakistan had been obtained from 27 countries, with data from another 13 countries in the process