Pakistan seeks USD10bn US support, Aurangzeb confirms
Finance Minister Muhammad Aurangzeb on Wednesday confirmed that Pakistan has formally sought a USD 10 billion Exchange Stabilisation Support Facility from the United States, saying the initiative is aimed at strengthening foreign exchange stability and sending a positive signal to international capital markets rather than securing a conventional loan or credit line. Talking to Business Recorder, the minister confirmed that the request had been made to the US Treasury Department, adding that negotiations were currently underway. However, he said that nothing had been finalised so far.