ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif on Monday directed authorities to accelerate efforts to provide small and medium enterprises (SMEs) with loans on easier terms through banks and other financial institutions. Read More: PM orders easy loans for SMEs to boost economy Chairing a meeting on SME development, the premier praised Special Assistant Haroon Akhtar and the newly elected […]
loans
ADB offers Pakistan additional loans for reforms and budget support
ISLAMABAD: The Asian Development Bank (ADB) has offered Pakistan additional loans to support institutional reforms, capacity building, and budgetary assistance. The offer was made during a meeting with Finance Minister Muhammad Aurangzeb, alongside an ADB delegation led by Country Director Emma Fan and Director General Leah Gutierrez. Read More: ADB okays $48m loan for Balochistan water resources development […]
PSX Surges as IMF Loan Deal Boosts Investor Confidence
KARACHI – The Pakistan Stock Exchange (PSX) continued its bullish run on Thursday after investor confidence was boosted by the staff-level agreement between Pakistan and the International Monetary Fund (IMF) for a $1.2 billion loan package. During intraday trading, the KSE-100 index surged by 685.25 points, reaching 166,371.63 points, up 0.41 percent from the previous […]
Pakistan, IMF reach deal over another $1.2bn in loans
The International Monetary Fund (IMF) staff and the Pakistani have reached a staff-level agreement on the second review under Pakistan’s Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility (RSF). Upon approval by IMF Executive Board, Pakistan would have access to about US$1.0 billion (SDR 760 million) under the EFF […]
Biden forgives millions of student loans
WASHINGTON: President Joe Biden said Wednesday that the US government will forgive $10,000 in student loans to millions of debt-laden former college students, keeping a promise he made during his 2020 White House campaign. The move could bolster support for his fellow Democrats in November’s congressional election, but some economists believe it could cause inflation, […]
Pakistan to soon become a defaulter? Read what Miftah Ismail has to say
ISLAMABAD: Finance Minister Miftah Ismail has rejected rumors about Pakistan’s likely failure in repayment of international loans. Ismail, while talking to a think tank in the UAE expressed hope that the country will receive more dollars in the upcoming few weeks. This will help in the improvement of the exchange rate. He said that a […]
State Bank of Pakistan allows banks, DFIs to provide loans
In order to promote housing finance and provide maximum facilities to the customers, the State Bank of Pakistan (SBP) has issued guidelines for banks and development finance institutions (DFIs) and allowed them to provide loans for purchasing a housing unit in under-construction projects, a statement issued from the central bank said. The statement says that […]
World Bank boosts Covid-19 vaccine funding
The World Bank announced Wednesday it has increased its Covid-19 vaccine fund for developing countries by $8 billion to $20 billion. In addition, the bank’s private financing arm secured a 600 million euro ($710 million) package for a South African vaccine manufacturer to ramp up production, the institution announced. “Together the actions announced today on […]
Chinese loan of $1billion secured by Pakistan
ISLAMABAD: Pakistan secured a loan of $1 billion in May, the loan is likely given by China. China has helped shore the external inflows up to $12.134 in the 11 months of the current fiscal year 2020-21. Total foreign inflows were expected to be fetched by the government to adjust the $12.233 billion, mainly […]
Pakistan facing foreign policy firestorm, economic emergency, says Sherry Rehman
ISLAMABAD: PPP Parliamentary Leader in the Senate Senator Sherry Rehman said in her budget speech in the Senate on Wednesday that countries have a responsibility to history, and governments to their people when they face a crisis. “There is no doubt that Pakistan is facing a foreign policy inflection point and is at the threshold […]