Billions of dollars in loans to be sought by Pakistan: media reports

The Financial Times quoted the Pakistan Prime Minister Shehbaz Sharif saying on Wednesday that the country would be seeking more loans worth billion of dollars from the global lenders to deal with and mitigate the devastating effects of the recent floods in the country.

Mr Sharif said that the country was not looking to reschedule its loan, but was instead looking for additional funding from international lenders. It is pertinent to mention here that the Finance Minister Ishaq Dar had said last week that Pakistan had requested the lenders to reschedule its loans.

While the prime minister shied away from disclosing the amount needed for the repair work of the infrastructure, the Financial Times reported that the country was seeking around $30billion.

Exit mobile version