Friday, May 24, 2024

Pakistan Eyes Rollover of $12 Billion Debts from Friendly Nations for 2024-25

To secure necessary funds for the fiscal year 2024-25, the federal government of Pakistan is making preliminary estimates of $23 billion in external financing, with plans to rollover debts worth around $12 billion from friendly nations.

Insiders within the finance ministry revealed that debts amounting to $5 billion from Saudi Arabia, $3 billion from the UAE, and $4 billion from China are slated for rollover. Additionally, new financing agreements with China are anticipated to be included in the upcoming financial year's budget.

- Advertisement -

Apart from friendly nations, Pakistan is set to receive over $1 billion from the International Monetary Fund (IMF) as part of a fresh loan program. The budget estimates also account for new financing from institutions like the World Bank and Asian Development Bank.

Negotiations for a new IMF loan program are scheduled to commence in mid-May, prompting the government to aim for achieving budget targets before the anticipated arrival of the IMF review mission in Pakistan. Ministries have been directed to finalize targets ahead of negotiations, with plans to present comprehensive details to the IMF delegation upon completion.

To ensure transparency and preparedness, the federal cabinet is expected to approve the budget strategy paper before the IMF review mission's arrival. The finance ministry has already initiated preparations for the budget, with a focus on setting targets for debt repayment, defense spending, tax collections, and development initiatives.

Stay updated with the latest and breaking news directly on your mobile phone by joining Headline PK's WhatsApp group!

For the most recent updates, don't forget to follow us on Twitter @Headline_pk. You can also find us on Facebook, Instagram, and YouTube.

 

 

Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.
0 0 votes
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Latest stories

-Advertisement-

Highlights of the Week
Related

Norway, Ireland, Spain to Recognize Palestine

Norway will recognize an independent Palestinian state, hoping to...

Iranian President’s Helicopter Crashes in Northern Region: Local Media Reports

A helicopter carrying Iranian President Ebrahim Raisi reportedly crashed...

Pakistan to replace solar net metering with gross metering

Pakistan has informed the International Monetary Fund (IMF) of...

Sindh Government Allocates Rs4 Billion for Karachi Safe City Project

The Sindh government has released Rs 4 billion for...
-Advertisement-