The State Bank of Pakistan (SBP) has received around USD 1.1 billion from the International Monetary Fund (IMF), a day after the global lender approved the last tranche of Pakistan under the USD 3 billion Stand-By Arrangement (SBA).
This latest funding marks the third and final installment of a USD 3 billion standby arrangement with the IMF, crucial for Pakistan to stave off a sovereign default, particularly as the existing arrangement is set to expire this month.
"Emergency procurement powers given by government over four tranches has helped us to modernise ourselves with contracts worth at Rs 18,000 crore signed under it. These equipments are now being used on the border," General Manoj Pande said
The comments came after the IMF agreed to a staff-level agreement with Islamabad which, if approved by its board, would disburse the last tranche of USD 1.1 billion under an existing USD 3 billion standby arrangement.
The International Monetary Fund (IMF) reached a staff-level agreement with Pakistan on Wednesday, on the final review of a USD 3 billion bailout, paving the way for the nation to receive the last tranche of USD 1.1 billion after approval from the Fund's Executive Board, reported Dawn.
Senators from two sides of political aisle sparred over Pakistan Tehreek-e-Insaaf (PTI) founder Imran Khan's letter to the International Monetary Fund (IMF) linking release of next tranche of bailout package with 'audit' of February 8 elections, Dawn reported.
First Tranche of auction of 20 critical and strategic mineral blocks was launched by the Union minister of Parliamentary Affairs, Coal and Mines, Pralhad Joshi on November 29, 2023.
Promoter Ajay Singh-led airline SpiceJet has raised Rs 316 crore from investors in its second tranche of capital infusion with the total fund infusion going up to Rs 1,060 crore.
Pune (Maharashtra) [India], February 13: Bajaj Markets, a subsidiary of Bajaj Finserv, is all set to open public subscription for the Sovereign Gold Bonds (SGB) Tranche 2023-24 Series IV. Investors can seize this opportunity to invest in gold from February 12 to February 16, 2024, during the
Assam Rifles conducted the event in Nagaland and Mizoram. In Nagaland, the event was conducted at Assam Rifles Training Centre & School, Sukhovi. Selected individuals were handed over the appointment letters by Bhanu Pratap Singh Verma, MoS, Ministry of MSME in the presence of Major Gene