The package includes $3bn balance of payments support and another $3bn in deferred payments on oil imports.
"Yes, We are going ahead into program negotiations with (IMF) in the first week of November", Noor Ahmed, spokesman for Pakistan's finance ministry, told Reuters in a text message.
Saudi Arabia has agreed to give Pakistan $3 billion as balance of payments support for one year, the Foreign Office said on Tuesday.
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Khan is in Saudi Arabia for the second time, since assuming power in August.
Pakistan's Prime Minister Imran Khan has said that he will resume peace talks with India after the 2019 general elections.
During the visit, the Prime Minister was accompanied by the Minister for Foreign Affairs, Makhdoom Shah Mehmood Qureshi, Minister for Finance, Mr. Asad Umar, Minister for Information, Mr. Fawad Ahmed, and Advisor to the Prime Minister on Commerce, Mr. Abdul Razaq Dawood, and Chairman BOI Mr. Haroon Sharif.
After the inauguration of the Future Investment Initiative Conference, a Pakistan-specific session was organized, in which the Prime Minister underlined Pakistan s priorities towards optimizing the economy and attracting foreign investment. "Saudi Arabia has confirmed its interest in this project and an MoU will be signed after the cabinet's approval".
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An agreement for setting up of refinery near Gwadar is expected to be inked between the Pakistan State Oil and Saudi Aramco soon.
It is the latest spat between the two countries after India chose to pull out of planned talks between the two countries' foreign ministers on the sidelines of the UN General Assembly in NY last month.
The Saudi Kingdom also expressed interest in the development of mineral resources in Pakistan.
"The remarks made by Pakistan's Prime Minister in his tweet today are deeply regrettable".
A Saudi delegation would be invited to visit Pakistan for an exploratory trip after consultations between the federal and provincial government of Balochistan, the FO said.
The crown prince, the FO said, accepted Mr Khan's suggestion for reduction of visa fee for Pakistani workers.
Khan tried to attract investments at the conference by stating that Pakistan had suffered in the aftermath of 9/11 attacks on the World Trade Center in NY. "Pakistan's deceitful stand on dialogue, while supporting terror and violence, stands exposed to the whole world", Kumar said. "We're desperate at the moment", he said.
Pakistan had said that India was just looking for excuses to avoid holding talks before next year's Parliament elections.