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Islamabad: In the coming fiscal year, the government intends to borrow roughly $16 billion in gross foreign loans to cover maturing external public debt and finance the budget deficit. According to Ministry of Finance sources, the expected $15.7 billion borrowings in fiscal year 2021-22 are roughly 10% higher than this year’s revised estimates of foreign …
Continue reading “Pakistan to receive loan from IMF to retire debts in FY22”
ISLAMABAD: The Pakistan Bureau of Statistics (PBS) announced on Thursday that inflation rose to over 9% in March, the highest rate in three months, due to increases in food and electricity prices, especially in rural areas of the country. Three days after Prime Minister Imran Khan sacked Finance Minister Dr Abdul Hafeez Shaikh for not …
Continue reading “Inflation touches the highest peak in March, PBS”
Karachi: Earlier this week the Pak-China relations took another turn as China agreed to give Pakistan $1 to $1.5 billion so that it can remove its burden of debt. With this much finance, the government will be able to pay off the outstanding payment to the Kingdom of Saudi Arabia The sources have confirmed that …
Continue reading “China agrees to help Pakistan repay Saudi Arabia”
