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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
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Comments (8) Closed
Jul 01, 2019 02:06pm
So whose begging now, and where is that money spend because it ain't reflecting in foreign reserves neither our debt decrease (although it increased).
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Jul 01, 2019 03:07pm
Pakistan should make friendship with India and Bangladesh ---- 'Friendly' India and Bangladesh would financially assist Pakistan.
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Jul 01, 2019 06:18pm
And IFM has promised only $6 millions yet dictating on everything. Even they have taken over State Bank of Pakistan.
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Jul 01, 2019 06:57pm
Set up a committee find out where all this money has gone. This is more than the entire money taken by NS in his entire tenure.
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Jul 01, 2019 07:17pm
@M. Emad, They don't like us simple as that now get out on filed and tart harvesting corps and doing hardworking instead of waiting for gimmicks like that, even if they willing to export yummy ice cream of Ammul to Pakistan we don't have dollars to pay them.
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Jul 01, 2019 11:13pm
All of these 15.6 billion dollars are pledges, just like MOUs. There are several steps between cup and the lips.
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Jul 02, 2019 07:34am
What is rate of interest offered by China? May be 31.8%?
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Jul 02, 2019 03:35pm
@Khan K, The entirely of the money is spent on ensuring that our country doesn't default and end up like Venezuela. Or perhaps Khan should keep his promise at the cost of the entire population starving?
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