Covid-19: Pak­istan re­ceived $3.7b grants, loans

The Pak Banker - - FRONT PAGE - IS­LAM­ABAD -APP

Pak­istan re­ceived $3.7b worth of grants and loans from var­i­ous coun­tries to sup­port the coun­try's corona re­lief ef­forts.

Ac­cord­ing to the de­tails, the Euro­pean Union pro­vided a grant of $57 mil­lion while the United States, Ja­pan, Asian De­vel­op­ment Bank (ADB), China, and UK dis­patched the grants of $31 mil­lion, $28 mil­lion, $7 mil­lion, $4 mil­lion, and $3 mil­lion re­spec­tively.

Out of to­tal an amount of $73.99 mil­lion had been dis­bursed to the con­cerned in­sti­tu­tions and au­thor­i­ties.

Sim­i­larly, Pak­istan also re­ceived loans from dif­fer­ent coun­tries and in­sti­tu­tions for var­i­ous healthre­lated projects.

The World Bank (WB) pro­vided a loan of $500 mil­lion, ADB $350 mil­lion, Is­lamic De­vel­op­ment Bank $70m, OPEC Fund $50m, and French AFG pro­vided $51m. Out of to­tal loans, an amount of $380m was dis­bursed among the prov­inces for dif­fer­ent projects.

Fur­ther, re­gard­ing the bud­getary sup­port un­der which the In­ter­na­tional Mon­e­tary Fund (IMF)pro­vided $1.386 bil­lion, ADB $500 mil­lion, and the Asian In­fra­struc­ture In­vest­ment Bank dis­patched $750m.

Un­der the head of bud­getary sup­port, the coun­try re­ceived $2.636 bil­lion in to­tal and all amounts had been utilised; the funds were re­ceived in the State Bank of Pak­istan ac­count from where the money was dis­bursed to the con­cerned agen­cies.

The chair­man of the Se­nate Stand­ing

Com­mit­tee has asked the con­cerned of­fi­cials to pro­vide it with de­tails of med­i­cal equip­ment re­ceived by the gov­ern­ment from var­i­ous in­ter­na­tional agen­cies and coun­tries dur­ing Covid-19 in the next meet­ing of the com­mit­tee.

The ex­change rate of Pak­istani ru­pee against the US dol­lar re­mained sta­ble in the in­ter­bank trad­ing on Wed­nes­day and closed at Rs 166.22 .

How­ever, ac­cord­ing to Forex As­so­ci­a­tion of Pak­istan, the buy­ing and sell­ing rates of dol­lar in open mar­ket were recorded at Rs 165.9 and Rs 166.4 re­spec­tively.

The State Bank of Pak­istan re­ported that in in­ter­bank trad­ing, the price of euro de­pre­ci­ated by 78 paisas and closed at Rs 194.38 against the last day's trad­ing of Rs 195.16.

IS­LAM­ABAD -APP

Fed­eral Sec­re­tary of IT and Telecom­mu­ni­ca­tion Shoaib Ah­mad Siddiqui in a group photo dur­ing AGSMA-MOITT Work­shop on Road to Ac­cel­er­ated Dig­i­tal Econ­omy-Tax­a­tion & Dig­i­tal In­clu­sion at Na­tional In­cu­ba­tion Cen­ter.

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