Pakistan is also negotiating further assistance from the new 'Friends of Pakistan' group, formed in New York last month to help rescue the country from its current financial crisis.
The group is scheduled to meet in Abu Dhabi next month. When asked what Pakistan expected to get from the group, a Pakistani diplomat familiar with the negotiations said, "All we can get... We are certain that the financing gap of $4 to 4.5 billion will be bridged.
It will ease pressure on foreign exchange reserves and the foreign exchange rate". Besides the $4 four billion already pledged, a separate amount of $900 million of US assistance is in the pipeline during the current fiscal year which started on October 1.
Image: Pakistani shopkeepers sit idle as they wait for customers at a local market during power cuts in Karachi.| Photograph: Rizwan Tabassum/AFP/Getty Images
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