Pakistan News

    Loan Against Gold In Pakistan

  • World Bank asked to rectify error about loan payable by Pakistan

    ISLAMABAD: Insisting that its external repayment obligations stand at $18 billion for the current year, Pakistan has asked the World Bank (WB) to rectify its ‘error’ that put external obligations at $31bn...

    In a recent report, the World Bank has estimated Pakistan’s current year international repayment obligations at $31bn, raising public concern that the country may not have enough resources to meet these targets...

  • Islamic loan books shift towards profit-sharing in Pakistan, Indonesia

    DUBAI: The make-up of Islamic banks’ loan books is changing in Pakistan and Indonesia with the growing use of profit-sharing contracts that could help Islamic finance win more customers in the two largest Muslim-majority countries...

    Over the past year Pakistan and Indonesia have stepped up efforts to develop their Islamic finance sectors, with regulators and religious scholars addressing criticism that the industry often merely...

  • ADB approves $20mn loan to increase credit access in Pakistan

    The Asian Development Bank (ADB) has approved a $20 million loan to help Pakistan’s Khushhali Microfinance Bank (KMBL) to expand access to credit for agriculture-related borrowers and small businesses, KMBL announced this on Monday...

    "Agriculture and small business are critical sectors in Pakistan’s economy that play a significant role in job creation and poverty reduction," said Christine Engstrom, Director of ADB’s Private Sector...

  • ADB to provide Pakistan $800 million loan for energy sector

    ISLAMABAD: The government of Pakistan and the Asian Development Bank (ADB) signed on Thursday a letter of exchange for the establishment of Pakistan National Fund for Disaster Management (PNFDM), a program loan for the sustainable energy sector program and two other projects worth of $800million in the energy sector...

    The letter of exchange and loan agreements were signed by the Secretary Economic Affairs Division (EAD), Tariq Bajwa...

  • World Bank approves $825m loan for Pakistan infrastructure

    The World Bank has granted Pakistan a $825 million loan to upgrade the energy and public finance sectors in a country which has long struggled with chronic power shortages and poor fiscal management...

    Just over half the loan, $425 million, would be used to modernise the national grid, the World Bank said on Wednesday...

  • Weak economy forcing Pakistan to seek loan from IMF: report

    WASHINGTON: A weakening economy is forcing Pakistan to seek another loan from the International Monetary Fund (IMF) and may also affect its ability to buy defence equipment, says a report released this week...

    The report by Avascent, a consulting firm which advises international defence contractors, revi­ews the impact of this economic slowdown on Pakistan’s defence purchases, but it also includes a brief review of the nat­ional...

  • Pakistan to seek its largest loan package from IMF

    WASHINGTON: Pakis­tan is seeking its largest loan package of up to $8 billion from the International Monetary Fund (IMF) to bail itself out from a severe crisis that threatens to cripple its economy, diplomatic sources told Dawn...

    The sources said that the IMF could place strict conditionalities, forcing Pakis­tan to seek additional loans for meeting those restrictions and this could expand the loan facility to $12bn...

  • Pakistan, World Bank sign loan agreement worth $918 million

    Adviser to the Prime Minister on Finance, Revenue and Economic Affairs Dr Abdul Hafeez Shaikh on Tuesday witnessed the signing of three loan agreements worth a total of $918 million with the World Bank...

    Country Director World Bank Patchamuthu Illangovan signed the agreements on behalf of the World Bank while Economic Affairs Division Secretary Noor Ahmed signed the financing agreements on behalf of the Government of Pakistan...

  • UAE’s Ajman Bank says it arranged $275m loan for Pakistan

    DUBAI: UAE-based Ajman Bank arranged a syndicated financing of $275 million for the government of Pakistan in May, the bank said on Monday...

    A number of banks participated in the one-year Islamic loan, which has a Murabaha structure and was solely arranged by Ajman Bank, it said in a statement...

  • ADB approves $1 billion emergency loan for Pakistan

    The Asian Development Bank (ADB) has approved an emergency loan of $1 billion for Pakistan to provide immediate support to the country's finances and help strengthen a slumping economy, according to a press release issued on Friday...

    The quick dispersing loan is part of a multi-donor economic reform programme spearheaded by the International Monetary Fund (IMF) to stablise the economy which crumbled mid-2018, the statement added... ...

  • ADB okays $300m loan to boost Pakistan’s Covid-19 response

    ISLAMABAD: The Asian Development Bank (ADB) has approved a $300 million emergency assistance loan to strengthen Pakistan’s public health response to the coronavirus pandemic and help meet basic needs of vulnerable and poor segments of society...

    ADB Vice President Shixn Chen said the financing through the project would fast-track the ADB’s assistance to strengthen Pakistan’s public health capabilities, provide immediate support to...

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