BAFL 45.40 Increased By ▲ 0.60 (1.34%)
BIPL 20.55 Decreased By ▼ -0.43 (-2.05%)
BOP 5.68 Increased By ▲ 0.40 (7.58%)
CNERGY 4.57 Increased By ▲ 0.15 (3.39%)
DFML 15.74 Decreased By ▼ -0.07 (-0.44%)
DGKC 71.40 Increased By ▲ 0.09 (0.13%)
FABL 27.30 Decreased By ▼ -0.50 (-1.8%)
FCCL 17.00 Decreased By ▼ -0.29 (-1.68%)
FFL 8.59 Decreased By ▼ -0.15 (-1.72%)
GGL 12.75 Decreased By ▼ -0.41 (-3.12%)
HBL 112.70 Decreased By ▼ -0.70 (-0.62%)
HUBC 119.25 Decreased By ▼ -2.65 (-2.17%)
HUMNL 7.56 Decreased By ▼ -0.38 (-4.79%)
KEL 3.28 Decreased By ▼ -0.09 (-2.67%)
LOTCHEM 27.78 Decreased By ▼ -0.12 (-0.43%)
MLCF 39.20 Decreased By ▼ -0.23 (-0.58%)
OGDC 108.49 Decreased By ▼ -0.78 (-0.71%)
PAEL 17.93 Decreased By ▼ -0.37 (-2.02%)
PIBTL 5.58 Decreased By ▼ -0.16 (-2.79%)
PIOC 106.50 Decreased By ▼ -3.50 (-3.18%)
PPL 92.00 Decreased By ▼ -1.61 (-1.72%)
PRL 25.49 Increased By ▲ 0.34 (1.35%)
SILK 1.07 Increased By ▲ 0.01 (0.94%)
SNGP 63.51 Decreased By ▼ -0.19 (-0.3%)
SSGC 12.05 Decreased By ▼ -0.20 (-1.63%)
TELE 8.41 Decreased By ▼ -0.47 (-5.29%)
TPLP 13.38 Decreased By ▼ -0.52 (-3.74%)
TRG 85.35 Decreased By ▼ -0.45 (-0.52%)
UNITY 26.04 Decreased By ▼ -0.06 (-0.23%)
WTL 1.55 Decreased By ▼ -0.05 (-3.13%)
BR100 6,185 Decreased By -45.4 (-0.73%)
BR30 21,452 Decreased By -287.1 (-1.32%)
KSE100 60,502 Decreased By -228.3 (-0.38%)
KSE30 20,175 Decreased By -64.2 (-0.32%)
Print Print 2023-03-31

UAE, Saudi Arabia: Dar says IMF seeking $3bn ‘guarantees’

  • Pakistan did not delay a single day in repayments, adds the finance minister
Published March 31, 2023

ISLAMABAD: Ishaq Dar on Thursday said that Pakistan didn’t delay a single day in repayments. “We didn’t defer a day in repayments,” the finance minister said while speaking on the floor of the Senate.

“All technical discussions have been completed, an agreement nearing with the International Monetary Fund (IMF),” he said.

“The IMF is demanding, what was committed during the fifth and sixth review of the bailout,” Dar said. “The lender wants guarantees of three billion dollars from the UAE and Saudi Arabia,” the finance minister told the Senate.

Pakistan’s ‘friends’: IMF wants commitments fulfilled: PM

Dar said that the foreign exchange reserves are improving. “We are trying to take the reserves to 13 billion dollars level by June,” he said.

“State Bank’s monetary policy has been free without any intervention from the government,” he said. “We have ourselves amended the state bank law. I was personally against these amendments in the law,” he added.

“By amending the law, State Bank has been made a state within state,” finance minister said. “I had opposed most of these amendments. The Ministry of Finance has now become powerless,” he further said.

“The economy has worsened from 2018 to 2023. In my five months all payments have been made, and currency reserves have reached 10 billion dollars,” he said. “The economy was destroyed during the PTI tenure,” he alleged.

“We were going to become 24th largest economy of the world in 2018, now we are at 47th number,” he said. He also suggested for concluding a charter of economy.


Comments are closed.

Tulukan Mairandi Mar 31, 2023 06:56am
Iron Brother China, who ia sitting on $3,000 billion in forex reserves, cannot guarantee $3 billion to for the sake of its sweeter than honey, deeper than ocean relationship with Pakistan and the Pakistani people? Perhaps we should also start talking about the Uyghur genocide, Taiwan freedom, US bloc and abandoning CPEC!
thumb_up Recommended (0)
Tulukan Mairandi Mar 31, 2023 06:58am
Liar Dar says “We didn’t defer a day in repayments” Not true. iron brother Chinese loan due last week not repaid till date. Waiting for iron brother China's approval to revolve it. Meanwhile Iron Brother sent a memo to IMF advising that the loan wasn't paid. Hence the new requirement.
thumb_up Recommended (0)
TimeToMovveOn Mar 31, 2023 08:07am
There are liars, followed by scoundrels, and then there is Dar. “We didn’t defer a day in repayments,” - FALSE China payment was due last week. “All technical discussions have been completed -- FALSE IMF has not approved the fuel subsidies. “State Bank’s monetary policy has been free without any intervention -- FALSE you held the dollar artificially “We are trying to take the reserves to 13 billion dollars level by June,” -- NO YOU CANT
thumb_up Recommended (0)
Love Your Country Mar 31, 2023 09:45am
Once bitten shy twice, a big thank you to Mr Niazi.
thumb_up Recommended (0)
Random Mar 31, 2023 09:54am
How is this guy such a liar. 10 billion reserves iss ke ghar mai paray hain?
thumb_up Recommended (0)
Haq Mar 31, 2023 10:50am
$ar miserably failed, all of his earlier claims are proved futile to Pakistan's economy... Can't be trusted !
thumb_up Recommended (0)
Zar Hussain Mar 31, 2023 10:53am
بخدمت جناب وزیراعظم صاحب پاکستان اپ سے گزارش ہے اگر آپ دوبارہ وزیراعظم بنا چاہتے ہیں تو مہربانی کرکے EOBI Pension کم ازکم 15000 مقرر کرکے مشکور کریں ۔ شکریہ ۔ زار حسین منجانب EOBI Pensioner Chitral KPK Mobile WhatsApp # 03489842725
thumb_up Recommended (0)
Parvez Mar 31, 2023 11:07am
How can the arsonist also be the firefighter....... absurd situation.
thumb_up Recommended (0)
Gp65 Mar 31, 2023 11:29am
Pak was about to become the 24th largest economy by PPP in 2018. It still is. It was nowhere close to becoming the 24th largest economy in nominal dollars.
thumb_up Recommended (0)
Gp65 Mar 31, 2023 11:34am
@Tulukan Mairandi, Not only has the $2 billion of Chinese bank been paid on due date, foreign airlines have not been paid $290 million for services already rendered. Moreover $1.2 repatriation of dividends blocked. Goods sitting on Pak shore in containers have also not been paid for.
thumb_up Recommended (0)
Gp65 Mar 31, 2023 11:35am
@Random, he is talking about total of what is in SBP (4.3 billion) plus what is in the banks (5.7 billion).
thumb_up Recommended (0)
Snyder Mar 31, 2023 11:53am
@Tulukan Mairandi, they say if u want to lose a friend, ask him for money. When u have no qualms about panhandling to the world and performing like Pakistanis have, nearly their entire existence, there is going to be trust issues. And yes talk about human rights in China, it has got to be a Pakistani to be this ingrate and incompetent.
thumb_up Recommended (0)
shabie Mar 31, 2023 12:38pm
Ma ak ghabid ho
thumb_up Recommended (0)
shabie Mar 31, 2023 12:38pm
thumb_up Recommended (0)
shabir Mar 31, 2023 12:39pm
MashaAllah Allah pak ap ko doneya ma Hagir da
thumb_up Recommended (0)
Nadeem Mar 31, 2023 12:48pm
@Tulukan Mairandi, but why we always want China to help us.
thumb_up Recommended (0)
Joe Mar 31, 2023 01:43pm
@Random, Because he belongs to crooks and corrupt mafia group!
thumb_up Recommended (0)
Joe Mar 31, 2023 01:44pm
Lies at its best! Who in their right mind would trust these crooks!
thumb_up Recommended (0)
Maqbool Mar 31, 2023 01:51pm
Why is everyone upset with China? All they asked before giving anymore money was , when in 2013 Pakistan outstanding was $ 44.35 billion and in April 2021 is was $ 90.12 billion , where was all this money spent? I would also like a reply to that question . If you know please let me know
thumb_up Recommended (0)
A. Tahir Mar 31, 2023 01:51pm
“By amending the law, State Bank has been made a state within state,” finance minister said. But the state within the state has hijacked the state! And that is the mega problem! The real issue!
thumb_up Recommended (0)
Abdullah Mar 31, 2023 01:53pm
They should seek guarantee to tax the rich and land lords and real estate.than we will not have to beg uar and saudi.wish saudi and uae keeps this conditon.
thumb_up Recommended (0)
Abdullah Mar 31, 2023 01:55pm
@Zar Hussain , we need to finish pension ad those getting pension did nothing to generate tax.Pensions are paid from tax received from private sector.say no to pensions.
thumb_up Recommended (0)
Yogesh(India) Mar 31, 2023 01:56pm
Pakistan is reeling under intrest payment it is giving to the world. Defence expenses is another issue. Govt. focus is to extract money from people and fulfil above needs.
thumb_up Recommended (0)
BK Mar 31, 2023 03:05pm
Beggar of a global scale! And thanks for making my country a beggar state as well. Why don’t you pls get sick again and go back to UK for treatment q k PAK ka medical system to is kabil nahi hai k aap ko sahi kar sakay…just leave and take a couple dozen or your friends from PDM and army with you…jao aish karo UK may…forget PAK
thumb_up Recommended (0)
Muhammad Zuvbair Mar 31, 2023 03:38pm
یہ منہ اور مسور کی دال۔ ان پر تم اب IMF تھوکتا بھی گوارہ نہیں کرتا۔
thumb_up Recommended (0)
Asim Apr 01, 2023 05:42am
@Joe, i think khan is the biggest liar we came across , a fraudia who led us here. Why dr was need of subsidywhen esaw is empire fall, bull shit all of them lies when matter.
thumb_up Recommended (0)
Asim Apr 01, 2023 05:44am
@TimeToMovveOn, who is IMF to tell us what we do n what we dont..
thumb_up Recommended (0)
Ash Chak Apr 01, 2023 10:13pm
What is the plan if 'friendly nations' refuse to oblige?
thumb_up Recommended (0)
TimeToMovveOn Apr 02, 2023 05:50am
@Asim, "who is IMF to tell us what we do n what we dont.." The IMF is your financial boss. They are your lifeline. Without IMF backing, Pakistan would have gone bankrupt, and most of the industries shut down. They pay you money to buy food to dole out to the poor people. They keey your lights on. They are your leander. They are IMF. So you have to listen to them. If you dont like them, then dont go them. No one is forcing you to go to them. But you have gone to them 25+ times since independence.
thumb_up Recommended (0)

UAE, Saudi Arabia: Dar says IMF seeking $3bn ‘guarantees’

Imran Khan will not take part in intra-party polls, PTI announces

Inter-bank: rupee registers back-to-back gains against US dollar

Open-market: rupee unchanged against US dollar

Caretaker PM meets Kuwait’s First Deputy Prime Minister

Israel, Hamas due to release more people amid efforts to extend truce

TPL Life Insurance, Dar Es Salam Textile Mills move ahead with merger talks

Oil slightly higher as OPEC+ awaited, Black Sea storm disrupts supply

Pakistan players told to put country before franchise leagues

Bangladesh orders probe into Cricket World Cup flop

FY23 sales of immovable properties: WHT collection registers 340.5pc growth YoY