ISLAMABAD: Minister for Finance Miftah Ismail said Pakistan would receive $8 billion in the current fiscal year 2022-23 from the IMF, World Bank and ADB.
Addressing a press conference in Islamabad today, he said the government had already signed a staff level agreement with the International Monetary Fund (IMF) and also fulfilled all the pre-conditions of the fund.
Miftah was optimistic that the IMF Executive Board would approve the agreement while the World Bank and the Asian Development Bank would also provide funds to Pakistan.
The IMF had said that Pakistan has a financing gap of $4 billion, and to cover this gap a friendly country has promised to supply $1.2 billion oil on deferred payment while another country has agreed to give $2.4b worth gas on deferred payment.
The minister said a friendly country has promised to invest $1-$2 billion in Pakistan Stock Exchange. Another country has promised deposits worth $2b while another Pakistan’s friend has agreed to give SDRs equivalent to $2 billion to Pakistan in 2022-23.
Finance Minister said that Pakistani rupee’s depreciation was a global phenomenon and the value of PKR would strengthen in the days ahead. On Wednesday (July 20), dollar-rupee exchange surged above 225 in the inter-bank and 226 and 227 in the open market.
