Besides IMF bailout package, Pakistan to acquire $5 bln from WB, ADB: Asad Umar

[Kabira]

KARACHI/ISLAMABAD (Dunya News) – Finance Minister Asad Umar on Tuesday revealed that Pakistan would take bailout package worth upto $12 bln from International Monetary Fund (IMF) to ‘restore confidence of investors in the market’.

He made these remarks in an exclusive interview with Kamran Khan.

Umar revealed that Pakistan would get aforementioned amount for span of three years under IMF’s extended credit facility. “IMF’s delegation would arrive in Pakistan on November 7. Besides bailout package, Pakistan would acquire another $5 billion from Asian Development Bank (ADB) and World Bank (WB)”, Umar was quoted as saying.

“Pakistan will put forward all-inclusive plan before IMF’s delegation. We [federal govt] aren’t taking all initiatives on directives of international monetary body”, Umar told Khan.

On plummeting value of Pakistani rupee (PKR) against greenback, Umar stated that currencies of all regional countries including India are shedding values as Trump continues to expedite economic war.

“Current economic quagmire has emanated from the widening current account deficit. However, economy is heading towards stability. God willing, this IMF’s bailout package would be last in the Pakistan’s history”, claimed finance minister.

“Exchange rate shouldn’t be determined on political basis. Rather, State Bank of Pakistan should determine exchange rate on basis of country’s economic condition”, professed Umar.

Responding to a question, Asad revelaed that gas tariff was hiked on recommendations of Oil and Gas Regulatory Authgority (OGRA).

 

[Kabira]

$15b from IMF. Another $5 billion from WB. Not bad PTI.

 

[Śakra]

@SunilM loans and more loans.

 

[Kabira]

 

[Hakikat ve Hikmet]

After 2000 financial meltdown, Turkey went through a $40-60b bail out (total economy was officially ~180b$)!!! And, it took Reis Erdo'an ~10 years to put an end to IMF!!! Insha'Allah Pak will be able to do it much earlier....

It'll give the Pak government the breathing space to carry out all out fight against corruption, undocumented economy, illegal $ transfers etc. I am pretty sure the Pak folks won't give a damn if thousands of corrupt heads roll...

It's like "now or never" situation for Pak once again!!!! And, they need to proceed with the singularity of purpose that they are famous for - be it a couple of battalions heroic resistance across the BRB canal against the Indian divisions with the direct and clear order from their Chief, deceiving the entire world into producing nukes/missiles etc. or the snatching of Pak itself from the jaws of Ram Rajya....

Countries like Turkey and Pak are born and survive through constant aggression!!! Remaining subjugated for a thousand years or turning into termites isn't an option for them....

Hodri Meydan....

 

[delta2]

Imran Khan alone has more qualifications than seven generations of Nawaz Sharif's father combined. What are you on about?

That looks like a man who realized that scum like Sharifs and Zardaris should have been dealt with 10 years ago!

After 2000 financial meltdown, Turkey went through a $40-60b bail out (total economy was officially ~180b$)!!! And, it took Reis Erdo'an ~10 years to put an end to IMF!!! Insha'Allah Pak will be able to do it much earlier....

It'll give the Pak government to carry out all out fight against corruption, undocumented economy, illegal $ transfers etc. I am pretty sure the Pak folks won't give a damn if thousands of corrupt heads roll...

The only thing Pakistan needs is application of the God given law: Cut the hand of a thief, hang the one causing and spreading mischief. The longer Pakistan delays to do it, the bigger the problems will become. The problems are relatively very small.

 

[Super Falcon]

What they are borrowing from WB and ADB dont understand

 

[Salahuddin Ayyubi]

$15b from IMF. Another $5 billion from WB. Not bad PTI.

No no sir. They are competent and professional people who will bring tabdeeli. They will rain down sweet milk from the sky and everyone will be a millionaire.

But on a serious note. I don't think you get to criticize any government after what you're party's previous tenure did to the economy. There wasn't a single year where the total exports went up even 1%. That's truly pathetic.

But at least unlike you, I have the intellect to be unbiased and criticize both of parties, your PMLN and their PTI. And by doing so, I leave you no room to criticize me or try to avoid answering the question.

 

[Salahuddin Ayyubi]

PTI before elections: pakka pakka wada key main loan nahi loonga. Ungli Wala promise.

PTI after elections: ohhh did I forget to mention that the finger was the middle finger??

[emoji23][emoji23][emoji23]

 

[soundHound]

Just as a question out of curiosity, if Pakistan economy collapses, what will be the fate of nukes? whatever government remain, will they have adequate funds to secure it, like secured fund sort of?

 

[Kabira]

No no sir. They are competent and professional people who will bring tabdeeli. They will rain down sweet milk from the sky and everyone will be a millionaire.

But on a serious note. I don't think you get to criticize any government after what you're party's previous tenure did to the economy. There wasn't a single year where the total exports went up even 1%. That's truly pathetic.

But at least unlike you, I have the intellect to be unbiased and criticize both of parties, your PMLN and their PTI. And by doing so, I leave you no room to criticize me or try to avoid answering the question.

My party changes depending on my mood. PDF is hub of potis and I bring balance to their BS lies.

Just as a question out of curiosity, if Pakistan economy collapses, what will be the fate of nukes? whatever government remain, will they have adequate funds to secure it, like secured fund sort of?

what are you talking about, go away idiot

 

[soundHound]

what are you talking about, go away idiot

How much is 2+2 BOY? Do you know how much fund is needed for security, maintenance and upkeep of nukes? With collapse of economy a fragile state like Pakistan will for sure engulfed by anarchy if nothing less.

 

[Arulmozhi Varman]

Just as a question out of curiosity, if Pakistan economy collapses, what will be the fate of nukes? whatever government remain, will they have adequate funds to secure it, like secured fund sort of?

Pakistan is too big to fail. At best after sometime some other country will waiver off some debts if it cannot pay back. It might cut some military personnels too. But Nuclear weapons? No. Some other country will save it if Pakistanis dont save themselves.

 

[Yaseen1]

this divine law cannot be applied when you go to imf and run interest based unIslamic economy.U.N human rights will not allow us to give such punishment

Imran Khan alone has more qualifications than seven generations of Nawaz Sharif's father combined. What are you on about?

That looks like a man who realized that scum like Sharifs and Zardaris should have been dealt with 10 years ago!



The only thing Pakistan needs is application of the God given law: Cut the hand of a thief, hang the one causing and spreading mischief. The longer Pakistan delays to do it, the bigger the problems will become. The problems are relatively very small.

 

[Salahuddin Ayyubi]

My party changes depending on my mood. PDF is hub of potis and I bring balance to their BS lies.



what are you talking about, go away idiot

Funny how you say your party depends on your mood, yet you have never criticized PMLN and have never praised PTI..

Who are you fooling??

Call them potis, call them youthias, call them burger bachas, call them whatever you like. But at least don't pretend to be neutral. Because you're not.