

Support quality journalism and subscribe to Business Standard. Your support through more subscriptions can help us practise the journalism to which we are committed. We believe in free, fair and credible journalism. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.Īs we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. (Only the headline and picture of this report may have been reworked by the Business Standard staff the rest of the content is auto-generated from a syndicated feed.)īusiness Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. The SBP, meanwhile, left its benchmark interest rate unchanged due to easing external financing worries amid indications that the country may soon receive a bailout approval from the IMF. The Pakistan rupee is the best performer globally this month and has gained 11 per cent since dropping to a record low last month as worries over a possible default fade, according to data tracked by Bloomberg. The pledges come before an International Monetary Fund (IMF) board meeting on August 29 that could lead to the release of $1.2 billion in financing.Īrab nations had committed to supporting Pakistan only after it secured an IMF programme, while the Washington-based lender has been seeking a commitment from Saudi Arabia. Prime Minister Shehbaz Sharif is visiting Qatar on August 23 and 24 and "an announcement of the assistance may or may not be announced during the trip", Syed added. The country will also get $1 billion in oil financing from Saudi Arabia and a similar amount in investments from the UAE, The News reported.Īll the funds are expected over twelve months, SBP deputy governor Murtaza Syed said in a briefing.

Pakistan will receive $2 billion from Qatar in bilateral support to help ease the South Asian nation's funding crunch and the consequent risk of a default, the State Bank of Pakistan (SBP) said. The Gulf country will be hosting the extravaganza for the very first time. The approval was given by the federal cabinet to the Pakistan Army- Qatar agreement on providing assistance during the mega football event from November 20 to December 18, The News reported. The approval was given by the federal cabinet to the Pakistan Army-Qatar agreement on providing assistance during the mega football event from November 20 to December 18, The News reported. The Pakistan Army will assist Qatar with security in the upcoming FIFA World Cup 2022 being held in the Middle Eastern country. The Pakistan Army will assist Qatar with security in the upcoming FIFA World Cup 2022 being held in the Middle Eastern country.
