Pakistan set to secure further loans worth $11 billion
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Federal Minister of Finance, Shamshad Akhtar, has said that the goal is to obtain $11 billion from friendly countries and donors. It is expected to receive $3.5 billion under the Rise Program from the World Bank.
While speaking here today, they said that the target for the current fiscal year is to obtain $11 billion from donors and friendly countries.
Discussions are underway with China and Saudi Arabia to collect $11 billion. It is expected to receive $350 million under the Rise Program from the World Bank.
In addition to receiving $11 billion from friendly countries and donors in repayments, a request for oil on deferred payments has also been made to Saudi Arabia.
Through the IMF, work is underway to bring in foreign investment, and agriculture, retail, and real estate sectors will have to be brought into the tax net.
The state of domestic loans is extremely precarious, and a major reason for inflation is the depreciation of the rupee. No one will be allowed to engage in illegal activities in the currency market, and all unlicensed exchange companies will be closed.
