Siddiqui thanked the PM Shehbaz for a $3 billion staff-level deal with the International Monetary Fund (IMF) at the time.


Islamabad: Prime Minister Shehbaz Sharif and Pakistan Muslim League-Nawaz (PML-N) Senator Irfan Siddiqui discussed the political situation of Pakistan on Thursday.
Siddiqui thanked the PM Shehbaz for a $3 billion staff-level deal with the International Monetary Fund (IMF) at the time.
IMF has released $1.2 billion to the State Bank of Pakistan (SBP) as the first tranche of the stand-by agreement, according to Finance Minister Ishaq Dar, who made the announcement today. The stand-by deal was approved by the IMF executive board the previous day.
He said that the increase in Pakistan's foreign reserves over the last four days was due to Saudi Arabia's $2 billion deposit and the United Arab Emirates' (UAE) $1 billion contribution.
Dar said in a public speech that the remaining $1.8 will be distributed in two instalments after two reviews.
In the plan sent to the lender, sources in the Finance Division said that Pakistan arranged $3.5 billion in bilateral funds from China, $2 billion from Saudi Arabia, and $1 from the United Arab Emirates.
On the multilateral side, Pakistan aims to secure $500 million from Asian Development Bank, $500 million from World Bank, and $3 billion from the IMF.
Fitch said local authorities expect $25 billion in gross new external financing in FY24, against $15 billion in public debt maturities, including $1 billion in bonds and $3.6 billion to multilateral creditors.
In a bid to ensure that the programme's measures are implemented in the lead-up to the elections due in October, the lender's team met all mainstream political parties including Imran Khan-led Pakistan tehreek-e-Insaf (PTI) to seek support and consensus for the SBA.
State Bank of Pakistan (SBP) has received today a deposit of $1 billion from United Arab Emirates. This inflow has further increased forex reserves held by SBP and will accordingly be reflected in the forex reserves position for the week ending 14July2023.
— Ishaq Dar (@MIshaqDar50) July 12, 2023
NHA increases toll rates by 15-50% across motorways and highways
- ایک گھنٹہ قبل

Why has Cory Booker been talking for 19 straight hours (and counting)?
- 6 گھنٹے قبل

Bueckers, Betts, Booker among Wooden finalists
- 7 گھنٹے قبل

Robbers attack Customs checkpoint, abduct three officials
- 2 گھنٹے قبل
Korangi Creek blaze persisting despite containment efforts
- 16 منٹ قبل

Heat intensifies across Punjab, no rain expected
- 27 منٹ قبل

What's going on with Rafael Devers? Putting his historic strikeout streak into context
- 7 گھنٹے قبل

The self-defeating tragedy of the Trump tariffs
- 6 گھنٹے قبل
Nobel Institute criticizes Imran Khan's Nobel nomination as political move
- ایک گھنٹہ قبل

NBA play-in tournament 2025: Schedule, standings, format
- 7 گھنٹے قبل

51 FIA personnel dismissed for alleged collusion with human traffickers
- 2 گھنٹے قبل
Trump imposes 29% tariff on Pakistani goods as part of new trade measures
- ایک گھنٹہ قبل