Says the government’s ongoing efforts to ensure stability have started showing encouraging results this fiscal year
Asian Development Bank (ADB)
Under the agreed US$305 million, the ADB would provide $200 million for safeguarding the poor and low segments of the society.
The World Bank has announced a grant of US$ 238 million while the Asian Development Bank (ADB) would provide US$350 million to tackle the spread of coronavirus.
Pakistani rupee is nearing to its exact value and the devaluation in currency will help increasing the exports, ADB report said.
Pakistan’s outlook is for a sharp drop in growth as growth rate in the country remained at 3.3 percent in the past fiscal year, which is the minimum in past eight years, bank said.
“The expansionary fiscal policy markedly widened the budget and current account deficits and drained foreign exchange,” the report observed.
The ADB delegation led by its Director-General Werner E Leipach discussed the ongoing and upcoming projects of the bank with the prime minister's adviser.
ISLAMABAD: Asian Development Bank (ADB) has signed a loan agreement with Pakistan for improvement of the power transmission system in the country, ARY News reported on Thursday. The volume of the ADB loan to Pakistan will be 284 mln dollars. The loan will be used for a project to improve the power transmission system in the country. ADB's Country Director and Secretary Economic Affairs Division signed the agreement here. Moreover, the lender will also give additional four million dollars for power generation…
ISLAMABAD: China has articulated their interest in joining TAPI gas pipeline project, it is a multiple countries linking project with its financial close of the first phase is expected next month. Originating at the giant Galkynysh gas field in Turkmenistan, the $9.6-billion TAPI (Turkmenistan, Afghanistan, Pakistan, and India) pipeline links four countries energy companies and will be carrying 33 billion cubic meters (BCM) of gas per year. Turkmenistan is building the TAPI pipeline to expand its gas exports, which are…
WASHINGTON: Finance Minister Muhammad Ishaq Dar in a pre-budget discourse apprised media here that salaried class and common man would get maximum relief in the upcoming budget while dispelling considerations of drastic taxes. Addressing a news conference, he said that Pakistan was making an impressive headway in financial and digital inclusion by demonstrating a hope that GDP growth over five percent would be achieved during the current fiscal year. Forecasting a stable economy, Dar expressed confidence to achieve…