Pakistan takes another $1.3b loan from World BankInternational 2021-04-01, by Editor Comments Off 3
ISLAMABAD: Pakistan and the World Bank on Friday signed over $1.3 billion worth of loan agreements including $600 million for budget support, oiling the government’s drying external financing pipelines after revival of the bailout package.
The amount includes $200 million lending for fighting locust attack – a project that faces resistance from the planning ministry due to fear of wastage of money on procurement of over 300 luxury vehicles and laptops. Pakistan also finally agreed to take $50 million loan for refugees after it initially refused to borrow the money for the purpose.
Farmers being registered by issuing kissan cards: Khusro Bakhtiar
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Khusro Bakhtiar said PM Imran was committed to put country on road to progress
RAHIM YAR KHAN (Dunya News) – Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar said on Wednesday that farmers were being registered by issuing them kissan cards, due to which, they would get direct benefits of subsidy by the government on seeds, fertilizers and other agriculture needs.
Talking to assembly members and notables here at Mohsin Abad residence of MNA Makhdoom Mubeen Alam, he said the resolution of problems lied in tolerance, endurance and consistency of democratic process in the country, adding that politics of chaotic was not in favour of any political party.
Foreign borrowing soars to $6.7b
Loans include $500m taken from China last month to support forex reserves
Pakistan on Wednesday signed a new $1.1 billion loan agreement with the IDB for a trade financing facility. PHOTO: FILE
ISLAMABAD:
The government received $6.7 billion in gross foreign loans in the first seven months of current fiscal year, including a new commercial loan of $500 million from China last month, which helped Islamabad keep its gross official foreign exchange reserves at current levels.
During the July-January period of fiscal year 2020-21, the government obtained $6.7 billion in external loans from multiple financing sources, the Ministry of Economic Affairs reported on Wednesday. The gross loans were higher by 6% or $380 million over the same period of last fiscal year.
NCC reviews K-P uplift projects costing $3.1b
Economic Affairs Minister Khusro Bakhtiar directs fast-tracking project execution
ISLAMABAD:
The National Coordination Committee on foreign-funded projects reviewed the progress of the on-going 30 projects of the Khyber-Pakhtunkhwa government amounting to $3.1 billion.
According to a press release by the Ministry of Economic Affairs, these projects include transport and communication, energy, rural development, education and training apart from water and irrigation system in the province.
Federal Minister for Economic Affairs Makhdoom Khusro Bakhtiar chaired the meeting of the National Coordination Committee on foreign-funded projects at Ministry of Economic Affairs.
It is pertinent to note that all these projects are being implemented with the help of development partners like World Bank, Asian Development Bank, USAID, China, UK, Saudi Fund, Germany, and France.
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February 13, 2021
LAHORE: Prime Minister Imran Khan Friday said the government had no magic wand to bring about the promised change in five years adding that this limited constitutional terms was insufficient for planning big development projects.
Launching the countrywide spring tree plantation drive in the Miyawalki Urban Forest at Jilani Park here, he said in parliamentary democracy elections were held every five years due to which big development projects could not be planned. He said bringing about such magical change in five years was not possible in any part of the world. He said no country could secure a prosperous future by making planning for five years but rather long-term projects were needed for national development and prosperity. The prime minister directed swift completion of relief projects in Punjab.