Finance minister says everything is 'settled now', a statement that comes in backdrop of massive rupee depreciation and concerns over Pakistan's falling foreign exchange reserves
The projects signed today mark ADB’s strong commitment for Pakistan’s post-pandemic recovery and sustainable development, says Yong Ye, ADB’s Country Director for Pakistan
Usman Dar said the government was planning to add another tier of Rs 100,000 to Rs 500,000 as most of the applications were received for this type of loans under the YES.
The Finance Minister directed that all the major banks and microfinance institutions come up with their suggestions on the design of the program within a week’s time and also earmark a percentage of their resources for the purpose.
It should be noted that Pakistan has returned the money to Saudi Arabia with the help of China, the Ministry of Finance, and the State Bank have refrained from commenting.