by Zafar Bhutta in The Express Tribune, Dec 26, 2023ISLAMABAD: Pakistan is aggressively pursuing arrangements to secure $1 billion promptly to progress towards achieving financial closure for the strategic Diamer Basha Dam project. Sources indicate the country needs approximately $3.5 billion for this purpose. During the recent visit of Caretaker Prime Minister Anwaarul Haq Kakar to Kuwait, Pakistan and the gulf state had signed an agreement to raise capital for the project. Diamer Basha Dam…
Posts tagged as “billion”
By Asif Mahmood Butt in The News, Dec 01, 2023LAHORE: Punjab Chief Secretary Zahid Akhtar Zaman said Thursday the Afghan transit trade and smuggling caused loss of four billion dollars annually. Talking to The News, he said after an end to smuggling, the price of sugar has come down significantly and wheat is now in abundance. “Now we are in a position to export wheat,” he remarked. The chief secretary said 900 illegal Afghan refugees…
Report in The Kathmandu Post, Nov 12, 2023Nepal’s public debt grew by Rs41.25 billion during the first quarter of the current fiscal year as outstanding total debt reached Rs2,340.60 billion, the Public Debt Management Office said. Total debt accounts for 43.49 percent of the country’s gross domestic product (GDP) as public debt against the GDP has been on the rise over the last few years. Even though the outstanding external debt decreased amid higher debt…
report in DSaily FT, Oct 23, 2023Sri Lanka’s main export engine, apparel, saw its shipments plunge further in September worsening the sector’s status quo. Apparel exports in September were down sharply by 26% to $ 332 million whilst performance in the first nine months was down by 20.5% to $ 3.4 billion. “September was a bad month. The industry was hoping to see some signs of slight recovery but that may now be October at…
by Shahbaz Rana in The Express Tribune, Oct 17th, 2023.ISLAMABAD: Pakistan’s federal development spending has come to a grinding halt as a mere Rs57 billion, or equal to 6% of annual budget, was spent during the first quarter of this fiscal year, which delayed the execution of some crucial projects but compensated for fiscal slippages in other areas. Half of the total amount, or Rs23 billion, was spent on parliamentarians’ schemes during the July-September quarter…
By Mehtab Haider in The News, Sept 10, 2023ISLAMABAD: In an effort to attract $25-30 billion in investments from the Kingdom of Saudi Arabia in copper, mineral, refinery and solar projects, Pakistan will need to address three major concerns of Riyadh to materialize multibillion-dollar investments in viable projects. The much-hyped Special Investment Facilitation Council (SIFC), jointly supervised and operated by the military establishment and civilian authorities, has been playing its role in removing stumbling blocks…
Report in The Kathmandu Post, April 17, 2023The government spent a substantial amount of foreign aid in administrative activities in the fiscal year 2021-22, the Office of the Auditor General said. In its 60th annual report released last week, the constitutional body revealed that the government spent as much as Rs25.56 billion on recurrent programmes though foreign aid is supposed to be spent in areas that help in capital formation. The government spent the amount…
report in Daily Mirror online Mar 8, 2023Sri Lanka is negotiating with India to extend a $1 billon credit line by a few months, two sources told Reuters. The credit line is to due to expire on March 17 with Sri Lanka having used only about two-thirds of it, mainly for medicines and food, said the sources and another person familiar with the matter. The extension talks come as the economy improves and forex reserves…