Finance Minister Muhammad Aurangzeb has said that the government has agreed terms for a $1 billion loan with two Middle Eastern banks at a six to seven per cent interest rate as Pakistan looks for more financing.
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Aurangzeb added that the loans were short-term, or up to one year. Aurangzeb added that Pakistan was aiming to discuss with ratings agencies a move towards a single B rating, hoping to see an upgrade in the coming months. “Ideally I would like to think that some action in this direction can take place before our fiscal year is over, which is this June,” he said.
Muhammad Aurangzeb further said exports have risen by 7.1 percent, while the IT sector grew by an impressive 28 percent year-on-year. The article said Pakistan's global default risk has dropped by 93 percent, signaling renewed faith in the country's fiscal stability. He said the current account has been in surplus for three consecutive months, and investor confidence is at a two-year high. He said foreign direct investment surged by 20 percent in the first half of the current fiscal year, reflecting renewed trust in Pakistan's economic trajectory.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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