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IMF approves $650 bn to aid corona fight August 4, 2021 ISLAMABAD: The International Monetary Fund (IMF) Tuesday approved the biggest resource injection in the Fund’s history, with $650 billion meant to help countries deal with mounting debt and the fallout from the COVID-19 pandemic, foreign media reported. The creation of the reserve assets known as special drawing rights is the first since the $250 billion issued just after the global financial crisis in 2009, with Managing Director Kristalina Georgieva billing it as “a shot in the arm for the world” that will help boost global economic stability. The SDR allocation will be effective on Aug 23, the IMF said in a statement. ....
The government has decided in principle to provide uninterrupted gas supply to two Punjab-based fertiliser plants. File ISLAMABAD: The government has decided in principle to provide uninterrupted gas supply to two Punjab-based fertiliser plants – Fatima and Agritech – on Sui Northern Gas Pipelines Ltd (SNGPL) network over the coming months to ensure sufficient local fertiliser production. The decision to this effect was reached at a meeting presided over by Finance Minister Shaukat Tarin to review the supply and stocks of urea fertilisers. According to an official statement, Minister for Energy Hammad Azhar, SAPM on Finance and Revenue Dr Waqar Masood, SAPM on Food Security Jamshed Cheema and secretaries of Finance, Industries and Production and Petroleum Division also attended the meeting. ....
August 4, 2021 ISLAMABAD: The World Bank has reallocated $150 million (Rs24.27) for Pakistan to procure COVID-19 vaccines, South Asia Regional Vice President (SARVP) World Bank Hartwig Schafer said on Tuesday. Talking to Minister for Finance Shaukat Tarin here, Schafer said, The WB is fully committed to providing assistance to the developing countries for procurement of COVID-19 vaccines and for the purpose, $150 million has been re-allocated for Pakistan by the Bank.” Pakistan s Country Director World Bank Najy Benhassine and Special Assistant to Prime Minister on Finance and Revenue Dr Waqar Masood were also present in the meeting. The finance minister acknowledged the significant contribution of the World Bank in the socio-economic development of the country since the 1950s. He welcomed the World Bank Group’s proposed $12 billion initiative to help developing countries procure COVID-19 vaccines to treat up to one billion people. ....
August 4, 2021 ISLAMABAD: The World Bank has reallocated $150 million (Rs24.27) for Pakistan to procure COVID-19 vaccines, South Asia Regional Vice President (SARVP) World Bank Hartwig Schafer said on Tuesday. Talking to Minster for Finance Shaukat Tarin here, Schafer said, “The WB is fully committed to providing assistance to the developing countries for procurement of COVID-19 vaccines and for the purpose, $150 million has been re-allocated for Pakistan by the Bank”. Pakistan’s Country Director World Bank Najy Benhassine and Special Assistant to Prime Minister on Finance and Revenue Dr Waqar Masood were also present in the meeting. The finance minister acknowledged the significant contribution of the World Bank in the socio-economic development of the country since 1950s. ....
IMF approves $650b aid to fight corona August 4, 2021 ISLAMABAD: International Monetary Fund (IMF) Tuesday approved the biggest resource injection in the Fund’s history, with $650 billion meant to help countries deal with mounting debt and the fallout from the COVID-19 pandemic, foreign media reported. The creation of the reserve assets known as special drawing rights is the first since the $250 billion issued just after the global financial crisis in 2009, with Managing Director Kristalina Georgieva billing it as “a shot in the arm for the world” that will help boost global economic stability. The SDR allocation will be effective on Aug 23, the IMF said in a statement. ....