The World Bank has approved a $300 million loan for the Punjab Clean Air Program (PCAP) to address air pollution. This funding will support the Government of Punjab’s efforts to reduce smog and improve air quality across the province. PCAP will help implement the Smog Mitigation Action Plan (SMAP) through initiatives in key sectors like […]
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Pakistan seeks $4.47 billion loan to tackle energy debt crisis
Pakistan’s government is negotiating a 1.25 trillion rupee ($4.47 billion) loan with commercial banks to tackle its mounting energy sector debt. Power Minister Awais Leghari confirmed that the loan, a key part of the IMF-backed economic reforms, will be repaid over 5 to 7 years. The initiative aims to stabilize the power sector and improve […]
PA passes prohibition of interest on private loan bill 2022
LAHORE: The Punjab Assembly on Tuesday passed The Punjab Prohibition of Interest on Private Loan Bill 2022 to curb the menace of usury. Treasury and opposition members jointly supported the bill which was presented by Pakistan Muslim League-Quaid MPA Khadija Umar. The bill was aimed at bringing an end to the menace of illegal business […]
Pakistan meets requirements for combined seventh, eighth reviews: IMF
Pakistan met the requirements for combined seventh and eighth reviews for the release of the loan tranche. The International Monetary Fund (IMF) said on Tuesday that Pakistan has met the final prerequisite for the combined seventh and eighth reviews. The IMF further stated that a board meeting is tentatively set for late August once […]
Fawad says G-20 suspends repayment of Pakistan’s $3.7bn loan till year end
ISLAMABAD: Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain on Tuesday said that the G-20 countries had suspended the repayment of $ 3.7 billion loan till the year end, bringing a good news for Pakistan’s economy. “The suspension of loan, which was liable to be paid instantly, is the good news for the national […]
Fawad says 82% loan from IMF borrowed by PPP, PMLN
ISLAMABAD: Federal Minister for Information and Broadcasting Chaudhry Fawad Hussain on Monday termed statements of Pakistan Muslim League-N President Shehbaz Sharif and Pakistan People’s Party Chairman Bilawal Bhutto regarding IMF programme ‘shocking’ and ‘hypocritical.’ In a statement, he said that 82 percent loan payable to the International Monetary Fund (IMF) till date was borrowed by […]