Pakistan to get $12 billion as budgetary support in 3 years

Pakistan would get 12 billion dollars from multilateral institutions as budgetary support or funding for projects during the next three years, Finance Minister Ishaq Dar said Monday.

Briefing newsmen about state of the economy in Islamabad, he said this would fully protect the country against liabilities and obligations and it will find no difficulty in making repayments to donors which come to three billion dollar during current fiscal year and one point five billion dollars next year.

The Minister said apart from firming up arrangements to fulfill our obligations‚ the PML(N) Government is also taking out of box measures to build foreign exchange reserves of the country.

Ishaq Dar said the IMF Board would meet on 4th of next month and hopefully approve package of six point six billion dollar for Pakistan.

He said the Islamic Development Bank has also agreed to provide seven hundred and fifty million euros and one hundred and fifty million dollars to Pakistan. He said the Bank has already released the first tranche to the State Bank of Pakistan.

The World Bank would provide one point five billion dollars to the country during this year besides one billion dollars to be provided by the Asian Development Bank. 

Ishaq Dar said the Government collected taxes worth one hundred and thirty four billion rupees during first month of the current fiscal year‚ meeting all the revenue targets.

The Finance Minister said a new policy for import of gold is being introduced from 31st of this month.

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Posted by Tahir Khan on Aug 26 2013. Filed under Business, Latest News, Pakistan. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.