Business
IMF approves Pakistan's appeal for new loan program
The reports also suggest that the new loan program from IMF is likely to be for the period of more than three years.
Islamabad: The significant progress has been made on the new loan program between Pakistan and the International Monetary Fund (IMF).
According to the media reports, the IMF accepted Pakistan's request for a new loan program.
It is also reported quoting sources in the Ministry of Finance, the IMF delegation will arrive in Pakistan next month for negotiations on the new loan program and the budget proposal for the next financial year.
Pakistan has submitted two appeals to the IMF out of which the request for Extended Fund Facility has been approved, while the second request will be reviewed by the mission during its visit to Pakistan. Pakistan will be able to borrow about $6 billion under the Extended Fund Facility, stated the report.
The reports also suggest that the new loan program from IMF is likely to be for the period of more than three years.
It is pertinent to note that Finance Minister Muhammad Aurangzeb requested the IMF for a new loan program which was approved.
-
Pakistan 1 day ago
Governor KP Ghulam Ali meets Nawaz Sharif
-
Pakistan 2 days ago
PM Shehbaz, Zardari pays tribute on Labour Day
-
Sports 2 days ago
England announce squad for series against Pakistan
-
Pakistan 1 day ago
Zardari meets MQM leadership, discusses law and order situation in Karachi
-
Pakistan 16 hours ago
PM's Saudi Arabia visit to deliver positive results in few months: Tarar
-
Technology 21 hours ago
AI could risk 17pc of jobs in Saudi Arabia: experts
-
Pakistan 14 hours ago
PIA suspends flights to Dubai, Sharjah amid return of heavy rains
-
Pakistan 1 day ago
Interior Minister visits Pakistan Coast Guards’ headquarters