Thursday, March 4, 2021

Featured News

Pakistan Accumulates $15.6 Billion Financial Aid; Qatar Pitches in with $3Billion

Pakistan breathed a sigh of relief on Monday when Qatar agreed to grant a $3 billion bailout package to Islamabad. With aid from Qatar, Pakistan has managed to secure a total of $16 billion aid from friendly nations. This news was confirmed by Advisor to PM Imran Khan – Abdul Hafeez Shaikh.

Embarrassed & Cornered; Pakistan PM Imran Khan To Visit Saudi Again For Financial Aid

“I want to thank the Emir of Qatar HRH Sheikh Tamim Bin Hamad Al Thani for announcing $3 billion in deposits and direct investments for Pakistan and for Qatar’s affirmation to further develop relations between the two countries”, tweeted Dr Abdul Hafeez Shaikh on Monday.

Oil-rich Qatar has become the fourth ally of Pakistan that that has come forward to safeguard Pakistan from default during past 11 months. Earlier, China has given $4.6 billion in the shape of deposits and commercial loans and Saudi Arabia provided $3 billion cash deposit and $3.2 billion oil facility on deferred payments. The UAE also provided $2 billion cash deposit to Pakistan.

Pakistan has also reached a staff-level agreement with the International Monetary Fund for a $6 billion bailout package, which is expected to be approved by the IMF Executive Board on July 3. However, the IMF has placed a condition to get rollover the short-term loans obtained from Saudi Arabia, China and the UAE.

In addition to securing $15.6 billion from four friendly countries, Islamabad has also obtained nearly $6 billion worth of loans, from multilateral agencies, commercial banks and other bilateral sources.

Featured News

Arjun vs Al-Khalid Tank – How Will India’s Homegrown Arjun MK-1A Tank Fare Against Pakistan’s Al-Khalid?

India’s Defence Acquisitions Council (DAC) on February 23 cleared the proposal for the acquisition of the indigenous Arjun MK-1A battle tanks for around Rs...

US Media Calls India’s LCA Tejas ‘Much More Reliable’ Than Chinese Fighter Jets

India's homegrown fourth-generation Tejas MK1A fighter jets are believed to be more reliable than Chinese combat aircraft, according to a report by US Magazine.Developed...

Which Are The Four Tactical Drones That Are In Race To Replace US Military’s RQ-7 Shadow?

The US Army is currently testing four drones to replace its tactical reconnaissance unmanned air vehicle (UAV), the Textron RQ-7 Shadow. https://eurasiantimes.com/indias-homegrown-lca-tejas-is-a-high-quality-product-compared-to-chinese-fighter-jets/ The US military has...

Why Did Indian Army Select Prithvi Missiles To Strike Pakistan After The Deadly 2019 Aerial Skirmish?

India's Modi government had reportedly ordered the army to deploy homegrown Prithvi ballistic missiles in the Rajasthan sector bordering Pakistan when Indian Air Force...

Five Key Reasons Why Pakistan Continues To Be On FATF ‘Grey List’

The Financial Action Task Force (FATF) has decided to keep Pakistan on the “grey list” till June for failing to act on six key...