Pakistan is likely to receive a multibillion-dollar financial support package from longtime ally Saudi Arabia this month, Reuters reported, citing sources.

Two finance ministry officials said the Saudi package would include deposits boosting the country's foreign exchange reserves and oil with deferred payments.

Finance Minister Ishaq Dar previously said he hoped negotiations with Saudi Arabia would begin soon. 

Pakistan's economy is facing a balance of payments crisis, with central bank reserves falling to $6.7 billion, barely enough for a month of imports and a widening current account deficit.