Pakistan’s budgetary support reinstated by World Bank

ISLAMABAD: Under the Resilient Institutions for Sustainable Economy (RISE) programme, the World Bank (WB) has announced that Pakistan’s budgetary support will be reinstated.

invest with imarat

Islamabad’s emerging city centre

Learn More

A loan worth $500 million to help improve the fiscal management and harmonise sales tax across the country may also be approved by the WB Board of Directors. The considerations came after Pakistan qualified the budgetary support condition of having ample foreign exchange reserves to cover at least two-and-a-half months of import bill.

The foreign reserves in the State Bank of Pakistan (SBP) increased by $45 million to $8.44 billion, informed the central bank.

Sovereign bonds may also be launched by the government of Pakistan, in accordance with the Ministry of Finance. Presently, the Ministry of Finance has worked to align the policy matrix of the RISE loan package under the condition of the WB. The approval of the loan will be given after scrutinising the performance of the concerned authorities and related projects in the third quarter of this fiscal year.

For news and blogs, visit Graana.com.

Maham Tahir

Recent Posts

Garha Mor: A Notable Landmark in Vehari City

Garha Mor, a notable landmark in Vehari, Punjab, Pakistan, is significant in its location, accessibility,…

21 hours ago

Aslam Market Wah Cantt: Pleasure of Shopping & Dinning

Located in the center of Wah Cantt, Aslam Market is a vibrant commercial hub that…

2 days ago

Abid Market Lahore: An Iconic Shopping Landmark

Located in the bustling heart of Lahore, Abid Market is a landmark shopping area well…

3 days ago

CDA Chairman Urges Rapid Completion of Major Islamabad Interchanges

ISLAMABAD, Nov 16 (APP): The Chairman of the Capital Development Authority (CDA), Muhammad Ali Randhawa,…

3 days ago

IMARAT Announces Launch of Pakistan’s Largest Sharia-Compliant REIT – A New Era of Real Estate Investment

Islamabad, Pakistan— IMARAT Group, a leading real estate developer and innovator in Pakistan, announces the…

3 days ago

Amma Tower: A Landmark in Urban Living & Commerce

Amma Tower, located in the bustling area of Saddar in Karachi, is a unique blend…

4 days ago