The Asian Development Bank (ADB) would provide a loan of $3.4 billion to Pakistan for budgetary support, a Minister has confirmed. The announcement was made by federal Minister for Planning,
Pakistan and the World Bank on Tuesday signed three loan agreements worth $918 million to help support revenue mobilisation and higher education development in the country.
Pakistan will share the details of the federal budget with the International Monetary Fund (IMF) board, which is scheduled to meet on July 3, after its passage in the National Assembly.
Pakistan Prime Minister Imran Khan’s government vowed to collect more taxes and make cuts in spending in a closely watched budget presented to parliament Tuesday, weeks after reaching a deal with the IMF for a $6 billion bailout.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Sharif is serving a seven-year sentence imposed last year for failing to disclose the source of income that allowed him to acquire the Al-Azizia Steel Mills in Saudi Arabia. He has appealed.
The Pakistan Tehreek-e-Insaf (PTI) government has accepted the long outstanding demand of stockbrokers to constitute a fund for stabilising the stock market. Adviser to Prime Minister on Finance Abdul Hafeez Shaikh accepted the proposal to form the fund at a meeting with the Pakistan Stock Exchange’s (PSX)
Pakistani police have arrested a man for beating his wife in public after the incident triggered wide condemnation and uproar on social media.
Syed Areeb Ahmed was among nine Pakistanis who were killed on March 15 when a white supremacist shot people inside two mosques in Christchurch, New Zealand.