Last week Pakistan received assurance from Qatar of a $3 billion package consisting of foreign currency deposit and direct investment. This was the fourth “friendly support” package of the sort which takes combined foreign aid to $15.6 billion. So far Saudi Arabia has promised $3bn oil supplies on credit set to begin this month at the rate of $270 million per month and $3bn in safe deposit of the State Bank of Pakistan, charging about 3.18 per cent interest. The United Arab Emirates has transferred $2bn in cash deposit at 3.18pc interest. China has extended financial support of $4.6bn in commercial loans and safe deposit.

Published in Dawn, The Business and Finance Weekly, July 1st, 2019

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Smog hazard
Updated 05 Nov, 2024

Smog hazard

The catastrophe unfolding in Lahore is a product of authorities’ repeated failure to recognise environmental impact of rapid urbanisation.
Monetary policy
05 Nov, 2024

Monetary policy

IN an aggressive move, the State Bank on Monday reduced its key policy rate by a hefty 250bps to 15pc. This is the...
Cultural power
05 Nov, 2024

Cultural power

AS vital modes of communication, art and culture have the power to overcome social and international barriers....
Disregarding CCI
Updated 04 Nov, 2024

Disregarding CCI

The failure to regularly convene CCI meetings means that the process of democratic decision-making is falling apart.
Defeating TB
04 Nov, 2024

Defeating TB

CONSIDERING the fact that Pakistan has the fifth highest burden of tuberculosis in the world as per the World Health...
Ceasefire charade
Updated 04 Nov, 2024

Ceasefire charade

The US talks of peace, while simultaneously arming and funding their Israeli allies, are doomed to fail, and are little more than a charade.