UAE aid keeps Pakistan government afloat

Jan 12 16:01 2019 Print This Article

Finance Minister says not entering into an IMF programme for now and mini-budget set to be announced on 23rd of January

Pakistan expected to reach an agreement with Saudi Arabia on the establishment of a $10 billion refinery in Gwadar, Balochistan

KSE-100 index gained 1,502 points or 4% to close at 39,049 points during the outgoing week

LAHORE: The government riding a wave of momentum after having secured a $6.2 billion financial aid package from the United Arab Emirates (UAE), is dilly-dallying on a potential International Monetary Fund (IMF) programme.

On Saturday, Finance Minister Asad Umar while talking to Karachi Chamber of Commerce and Industry (KCCI) businessman said the mini-budget would be announced on the 23rd of this month.

“The government is presenting the supplementary budget to facilitate traders and businessmen and to also take initiatives that could further curtail imports,” he said while addressing the members of the chamber.

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