In a move to alleviate its financial woes, Pakistan has successfully secured a USD 655 million financing package from the Asian Development Bank (ADB). This comprehensive package, approved by the ADB, comprises three distinct loans aimed at addressing various challenges faced by the country, including domestic resource mobilization, postflood rehabilitation efforts, and agricultural productivity enhancement.
The announcement of this financial support comes at a critical juncture, just days after Finance Minister Shamshad Akhtar publicly declared Pakistan's public debt as "unsustainable." The ADB's decision to extend this financial lifeline underscores the urgency of addressing Pakistan's economic concerns.
The breakdown of the financing package includes a significant USD 300 million allocated for improving domestic resource mobilization. This initiative aims to strengthen the country's fiscal foundations, despite concerns raised by the Finance Minister regarding the sustainability of Pakistan's current debt trajectory.
Additionally, USD 275 million has been earmarked for rehabilitating schools damaged by the devastating floods that struck Pakistan in August 2022. This allocation underscores the ADB's commitment to supporting the country in recovering from natural disasters and rebuilding critical infrastructure.
Bu hikaye The Business Guardian dergisinin December 08, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Business Guardian dergisinin December 08, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
CJI PERMITS VIRTUAL HEARINGS, RULES OUT FULL ONLINE SHIFT
However, CJI did not allow top court to go fully online, affirms lawyers' option to appear virtually.
At 78.67 lakh, Metro records highesther dailyltidership
Metro recorded its highest-ever daily ridership, with an impressive 78.67 lakh passenger journeys, according to official data. This surpassed the previous record of 77.49 lakh passengers set on August 20 of this year.
BJP youth wing stages protest
The BJP Youth Wing held a protest at Anand Vihar Chowk, near Delhi's border, to highlight the alarming pollution levels in the capital.
Gopal Rai seeks PM's help on pollution
The AAP government in Delhi has urged the Prime Minister to expedite the process of implementing artificial rain in the capital.
SC dismisses bail petition after adjournment sought for 4th time
The Supreme Court in the case Nilesh Dnyaneshwar Desale Versus The State Of Maharashtra observed and has dismissed the petition filed seeking bail after adjournment was sought on the fourth occasion.
RAJASTHAN HIGH COURT IMPLEADS THEN JODHPUR COLLECTOR, SDO, TEHSILDAR IN ENCROACHMENT CASE; WARNS OF JAIL SENTENCE IF ORDERS ARE NOT FOLLOWED
The Jodhpur bench of Rajasthan High Court in the case Mahesh Kumar Pal v Mr. T. Ravikanth & Ors observed and has directed the petitioner to implead the then concerned Collector, Subdivisional Officer and Tehsildar to seek their stand, warning them of punishment which includes \"jail sentence\" if they don't pay heed to court orders.
Delhi air pollution: Supreme Court advises use of masks amid *severe*, air quality In Delhi-NCR
The Supreme Court in the case has issued strict adherence to preventive health measures, which includes wearing masks, as air quality in Delhi-NCR continues to deteriorate.
SC: Labour Court's factual finding should not be disturbed by Writ Court without a compelling reason
The Supreme Court in the case Ganapati Bhikarao Naik Versus Nuclear Power Corporation Of India Limited observed that the factual findings of a Labour Court should not be normally disturbed by a Writ Court without a compelling reason.
CASTE CENSUS: BRIDGING INEQUALITY OR DIVIDING INDIA?
The concept of a caste census is not new. Historically, the idea of enumerating castes has been intertwined with India's governance and social structures.
Calcutta High Court: Govt office is public property, any political party ransacking it must be appropriately charged
The Calcutta High Court in the case Amiruddin Versus The State Of West Bengal And Ors observed and took a strong objection wherein the petition is filed highlighting the alleged ransacking of a panchayat office by workers of a certain political party.
