Tags : loan

PM Shehbaz to “Engage” with Chinese Banks for $600m Loan

PM Shehbaz Sharif and Finance Minister to Negotiate $600 Million Loan with Chinese Banks Prime Minister Shehbaz Sharif and Finance Minister Muhammad Aurangzeb are set to engage in crucial talks with Chinese banks to secure a $600 million loan. The Prime Minister will actively negotiate with the Commercial Bank of China and Industrial and Commercial […]Read More

IMF Raises Concerns Over Pakistan’s Debt Repayment Challenges

The International Monetary Fund (IMF) has raised concerns about Pakistan’s debt-repayment challenges, highlighting the country’s cash-strapped situation. These concerns were underscored shortly after an IMF support team arrived in Pakistan to engage in discussions regarding the nation’s request for a fresh bailout package under the Extended Fund Facility (EFF). In its recent staff report on […]Read More

The IMF prioritized the primary surplus over the fiscal deficit.

ISLAMABAD: Primarily examining Pakistan’s fiscal framework for 2023–2024, the visiting IMF mission has focused on converting the country’s primary deficit into a surplus under the $3 billion standby arrangement (SBA) program. Despite the fact that the current fiscal year’s debt servicing has increased by Rs1 trillion. The  IMF does not appear to be overly concerned […]Read More

Strictly implement targets as agreed under loan deal: IMF advises

AL-MALABAD: The International Monetary Fund (IMF) has advised Pakistan that it must fulfill the obligations outlined in the $3 billion Stand By Agreement with the global lender, according to sources who spoke with the private news channel on Thursday. A day prior, the Nathan Porter-led IMF delegation had touched down in Pakistan to spearhead the […]Read More

Pakistan received $3.49bn loan

ISLAMABAD: According to the private news channel, the Economic Affairs Division, Pakistan got $3.52 billion during the first three months of FY-2023–24, including $3.49 billion in loan and $34 million in grants. The Economic Affairs Division has published a monthly report detailing the loans and grants that Pakistan has thus far received from various nations […]Read More

Banks grant PIA a loan in line with its privatization targets

KARACHI: Banks have stepped up to offer crucial financial support to the national flag carrier as a result of the decision to privatize Pakistan International Airlines (PIA), according to the private news channel on Friday. A loan of Rs 18 billion for PIA to cover its immediate financial obligations has granted by the banks, according […]Read More

China’s Bank rolls over $2.4 billion loan to Pakistan

Finance Minister of Pakistan Ishaq Dar announced Thursday that the Export-Import Bank of China (EXIM) has rolled over $2.4 billion loan to Pakistan. This comes as a sigh of relief for the outgoing Pakistan Democratic Movement-led government as it seeks to meet Pakistan’s debt payments due next year. Also Read: Another hike in electricity rates […]Read More

Sindh passed law against harassment by private lenders

KARACHI: The Government of Sindh has introduced a law on the imposition of strict penalties against private lenders providing loans on exorbitant interest rates and harassing debtors. Sindh Governor Kamran Tessori signed the ‘Sindh Prohibition of Interest on Private Loans, Bill 2023’, allowing the imposition of strict legal actions against private lenders. Also Read: Here’s, […]Read More

South Korea concedes Pakistan’s loan worth $19.91m

ISLAMABAD: Korea and Pakistan deal, The federal government of Pakistan on Monday signed a Debt Service Suspension Agreement with the Republic of Korea amounting to the deferment of payment of loans worth $19.911 million, under the G-20 Debt Service Suspension Initiative (DSSI) framework. This money that was supposed to paid back from July to December […]Read More

New demands: Pakistan-IMF loan agreement delayed

ISLAMABAD: Despite the assurances from friendly countries about external funds to Pakistan, the International Monetary Fund (IMF) still showing a lack of confidence and asking Islamabad to ‘do more’ to unlock loan programme, the private news channel reported on Monday, quoting sources. According to the sources. Pakistan has asked to present a repayment plan for […]Read More