iPhone | iPad
Android
Huawei
The Dubai Ruler and Deputy Prime Minister sent similar cables of condolences to the Prime Minister of Italy, Giorgia Meloni
KT APPDOWNLOAD
IMF approves revival of massive Pakistan loan programme
Finance minister says Pakistan will receive the 7th & 8th tranche of $1.17 billion
Army troops evacuate people from a flood-hit area in Rajanpur in Pakistan. — AP file
The International Monetary Fund has approved the revival of a massive loan programme to Pakistan, the finance minister said on Monday, as the country grapples with devastating monsoon flooding that has worsened an economic crisis.
“We should now be getting the 7th & 8th tranche of $1.17 billion,” Miftah Ismail said on Twitter.
An original $6-billion bailout package was signed by former prime minister Imran Khan in 2019, but repeatedly stalled when his government reneged on subsidy agreements and failed to significantly improve tax collection.
ALSO READ:
The new agreement follows months of deeply unpopular belt-tightening by the government of Shehbaz Sharif, which took power in April and has effectively eliminated fuel subsidies and introduced new measures to broaden the tax base.
Islamabad has so far received $3 billion from the programme, but with the facility due to end later this year, officials sought an extension until June 2023.
More news from
Abu Dhabi star underlines F2 dominance as battle for silver and bronze goes down to the wire
It is not immediately known how long the sailors were stranded in Yemen
Tight for second as Faysal Ayoubi and Charles Faulkner prevail on a countback
The Men in Green will kick off their campaign against The Netherlands on October 6 at the Rajiv Gandhi International Stadium in Hyderabad, India
Over 40 of Akasa's 450 pilots quit without serving their notice in recent weeks, causing 632 flight cancellations in August
He says migrants who risk drowning at sea 'must be rescued' because doing so was 'a duty of humanity'
In 16 ODIs this year, Babar scored 745 runs at an average of 49.66 and a strike rate of over 85