ISLAMABAD: The government is planning to acquire $16 billion in the next fiscal year to counter the maturing external public debt, its recurring interest payments and finance the expected budget deficit. The figure would be the highest ever borrowed by Pakistan in a single year, underscoring its woes at the hands of recurring debt payments. […]
Asian Development Bank
ADB says Asia-Pacific can emerge from pandemic stronger than before
Asian Development Bank (ADB) President Masatsugu Asakawa has said that the Asia and the Pacific region can emerge from the coronavirus disease (COVID-19) pandemic even stronger than before by focusing on five areas to help achieve a prosperous, inclusive, resilient, and sustainable future. “I believe the path we have laid out will help lead our […]
Pakistan’s GDP growth likely to decelerate to 3.9%: ADB
The Asian Development Bank on Wednesday predicted that Pakistan’s GDP growth will decelerate to 3.9% in the fiscal year 2019 amid macroeconomic challenges despite steps to tighten fiscal and monetary policies to rein in high and unsustainable twin deficits. The Asian Development Outlook, 2019, forecasts that continued fiscal consolidation (reduction in underlying fiscal deficit) in […]
Karachi unable to adopt E-buses due to poor electric system: ADB
Amid heightened concerns over Karachi’s severe air pollution, the Asian Development Bank (ADB) says E-buses are not a suitable solution for the city’s Bus Rapid Transit (BRT) systems mainly due to its unstable electric system. As an alternative, using biomethane buses was assessed with Karachi having a very large potential to produce biomethane derived from […]
Pakistan set to get $7.1 bn from ADB for sustainable growth
ISLAMABAD: The Asian Development Bank (ADB) on Sunday has announced a $7.1 billion financial package for Pakistan, saying it would help the country to achieve inclusive and sustainable growth over the next three years. Wencai Zhang, vice president of the Manila-based lender in a statement said that ADB plans to significantly increase the country’s sovereign […]