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ADB approves $500 million loan for Pakistan

It will support Pakistan’s exports, trade competitiveness

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August 7, 2019


Brace for impact as IMF presses for painful reforms

Provincial share in NFC likely to take a hit

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May 14, 2019


Pakistan likely to receive $1bn from UAE, Saudi oil on deferred payments next month

On March 25, Pakistan received $2.2b from China

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March 27, 2019


Pakistan to receive $2.1 billion from China by Monday

$2.1 billion will be deposited into the SBP account

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March 23, 2019


Pakistan receives second UAE installment of $1b

The first installment was received from UAE in January

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March 12, 2019


Gujranwala man kills friend who loaned him Rs600,000

Police said they are investigating the incident

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March 4, 2019


Pakistan could get by without an IMF loan: Finance Minister Asad Umar

Talks are ongoing regarding bailout packages from the UAE and China, he said.

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January 10, 2019


Asad Umar to meet World Bank and IMF officials on Tuesday

The meeting will be held in Indonesia

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October 8, 2018


Embattled Air India seeks ‘urgent’ loan

Air India has announced it is seeking an urgent multi-million-dollar loan to maintain day-to-day operations, highlighting the wretched financial predicament of the country’s debt-stricken national carrier. In a statement posted on its website this week the airline said it was looking for a short-term loan of 10 billion rupees ($148 million) “to meet urgent working…

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June 8, 2018


No discrimination against companies regarding rescheduling of loans: SBP

ISLAMABAD: Senate Standing Committee on Finance and Revenue Thursday was informed that no discrimination was made against any company regarding rescheduling of loans and that State Bank of Pakistan was not dictating banks in this regard. Discussing the agenda on discriminatory treatment being meted out with some private companies namely Omni Group, Pale etc, Deputy…

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February 1, 2018


Pakistan Refinery approaches banks for syndicated loan: bankers

Pakistan Refinery is in talks with international banks over a potential syndicated loan, bankers involved in the discussions said. The loan proceeds will be used to double Pakistan Refinery’s refining capacity, they said. The company did not immediately respond to a request for comment. Talks are at an early stage, the bankers said, with one…

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October 13, 2016


MQM responds to SUN charity report

LONDON: Muttahida Quami Movement (MQM) Thursday said the details of its loan to UK-based charity Society for Unwell and Needy (SUN) have been a matter of public record. The Daily Sun newspaper had posted a story on its website, revealing the SUN charity is being investigated after receiving a loan of over 2 lakh pounds…

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March 31, 2016


IMF likely to approve $502 mln loan tranche for Pakistan

WASHINGTON: The Executive Board of the International Monetary Fund (IMF) is due to meet on Monday to discuss the eighth review under the Extended Fund Facility arrangement with Pakistan and is expected to approve the release of $502 million loan tranche. Pakistan achieved the staff-level agreement with the IMF officials in August after the successful…

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September 27, 2015


IMF approves eighth loan installment for Pakistan

ISLAMABAD: The Executive Board of the International Monetary Fund (IMF) on June 26, 2015 completed the seventh review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement. The Board’s decision enables the immediate disbursement of an amount equivalent to SDR 360 million (about US$506.4 million), bringing total disbursements…

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June 27, 2015


World Bank disburses $706 mln loan to Pakistan

KARACHI: The World Bank on Thursday disbursed $706 million loan to Pakistan for development of key economic and education sectors. State Bank of Pakistan, the country’s central bank, confirmed that it has received the loan amount. In a statement, it said of the total disbursed amount $500 million are earmarked for improvement and capacity building…

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June 25, 2015


Pakistan to get another $506 mn loan from IMF: Dar

ISLAMABAD: Pakistan in June will get the next installment worth $506 million of its loan from the International Monetary Fund after a successful review of its economic performance, the finance minister said Monday. “The seventh review was completed successfully today, for which an IMF team came to Islamabad,” Ishaq Dar told a joint press conference…

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May 11, 2015


Greece, euro zone agree four-month loan extension

BRUSSELS: Euro zone finance ministers agreed in principle on Friday to extend Greece's financial rescue by four months, averting a potential cash crunch in March that could have forced the country out of the currency area. The deal, to be ratified once Greece's creditors are satisfied with a list of reforms it will submit next…

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February 21, 2015


IMF approves $1.05bn in latest Pakistan loan

ISLAMABAD: The International Monetary Fund announced Thursday that it had approved the release of $1.05 billion for Pakistan, the fifth instalment of a $6.6 billion loan to the crash-strapped nation. The Washington-based lender granted an extended fund facility to Pakistan in September 2013 on the condition that it carry out extensive economic reforms especially in…

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December 18, 2014


India probes $155 mln bank loan to troubled Kingfisher airline

NEW DELHI: India's top crime fighting body is investigating a $155 million loan by a state-run bank to debt-ridden Kingfisher Airlines, a police official said Sunday. The Central Bureau of Investigation (CBI) was conducting an initial probe into why the 9.5 billion rupee ($155 million) loan from the IDBI bank was approved given Kingfisher's levels…

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August 10, 2014


WB approves $12 billion, five-year loan for Pakistan

ISLAMABAD: The World Bank has approved a $12 billion loan for cash-strapped Pakistan that will be disbursed over five years, the country's finance ministry and the global lender said on Friday. The ministry said the money will target “energy, economy, (fighting) extremism and education”, with $1 billion being transferred to Pakistan in the next week….

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May 3, 2014


ADB approves $400 mln for energy reforms

MANILA: The Asian Development Bank (ADB) has approved a $400 million loan to support the government of Pakistan's ongoing reforms to tackle the country’s chronic energy crisis which has crippled industries and caused social unrest. “The loan is part of an assistance program which will underwrite reforms needed to make the energy sector affordable, reliable,…

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April 24, 2014