PM Imran Khan arrives in Saudi Arabia on two-day official visit

Fawad termed it unethical to publish news without taking govt’s stance on any such issue

It also gave oil on deferred payments in the 1990s, but Pakistan never repaid the amount, according to a media report quoting officials of the finance ministry.

He said the government immediately needed Dollars 12 billion to USD 13 billion to ease the financial crisis and retire foreign debt.

He will be accompanied by a high-level delegation, including Foreign Minister Shah Mehmood Qureshi.

The prime minister's attendance at the FII comes as leading policy-makers and corporate chiefs shunned the conference in response to the death of journalist Jamal Khashoggi at the Saudi consulate in Istanbul.

Expressing disappointment over Khan's address to the nation, the Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) asked the government to brief the nation about the terms and conditions on which Saudi Arabia had agreed to provide a bailout package to the country.

Pakistani Prime Minister Imran Khan prepares to speak at the opening of the Future Investment Initiative conference, in Riyadh, Saudi Arabia, Tuesday, Oct. 23, 2018.

Pakistani officials have been concerned the United States, which has fallen out with Islamabad, will push the International Monetary Fund to impose harsh conditions on Pakistan as part of any bailout.

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Earlier in the day, the Economic Coordination Committee, chaired by Finance Minister Asad Umar, had announced that it was putting off a decision on a proposed hike.

Though China is now Pakistan's closest ally, Khan's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure programme in its vast Belt and Road Initiative.

The situation could further improve if China also makes some commitments to rescue its "all-weather friend", it said, noting that Khan is scheduled to travel to China on November 3 for his first visit.

He accused the previous two governments of plunging the country into its worst financial crisis, and said the opposition parties' recent plan to form an alliance was aimed at pressing the government to get some relief under a deal like the National Reconciliation Ordinance (NRO) that was bestowed upon them by retired General Pervez Musharraf.

During the visit, Prime Minister Imran Khan will hold meetings with Chinese President Xi Jinping and Premier Li Keqiang and review the entire range of bilateral relations which have enjoyed a long history of mutual trust and mutual support, spokesperson Dr Muhammad Faisal said. Officials estimate the proposed project may bring up to $8 billion in Saudi investment.

The Trump administration has been critical of China's Belt and Road Initiative, saying that it has saddled some developing countries with debts they can not afford to repay.

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