Saudi loan stabilising economy, rupee.

Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Friday said Saudi loan has improved the balance of payments situation and helped stabilise the rupee.

The loan has reduced IMF's pressure on the government therefore the authorities should take advantage of the development, he said.

Mian Zahid Hussain said that a serious crisis has been temporarily averted but it will resurface again if the current policies were not changed.

Talking to the business community, the veteran business leader said that the government has to repay 12 billion dollars to international creditors therefore issues with the IMF should be resolved in a timely manner.

He noted that it will not be possible for the government to obtain more loans as long as issues with the IMF are resolved

Mian Zahid Hussain said that Saudi Arabia has helped Pakistan in difficult times but if the government does not control the imports even after Saudi relief of more than four billion dollars, the situation may deteriorate again soon.

He added that unnecessary imports need to be stopped immediately, as the pace of imports is raising concerns among concerned...