ANI
08 Apr 2021, 23:26 GMT+10
Islamabad [Pakistan], April 8 (ANI): As loans worth billions of dollars continue to mount on Pakistan, Prime Minister Imran Khan on Thursday admitted that the country's economy has been mismanaged in the past.
Speaking at an event in Islamabad, the Pakistan PM said such loans were taken in the past which instead of wealth creation further increased the burden of loans, The News International reported.
He said the Pakistan government is focusing on wealth creation projects to retire the country's debt.
Amid the rising number of Covid-19 cases in Pakistan, the Prime Minister on Tuesday had said that his government would approach the International Monetary Fund (IMF) for another relief package to mitigate the impact of the pandemic.
Khan had said his government's "main concern is to lift our people" out of poverty, The Express Tribune reported.
"We are going to speak to IMF because we see disruptions ahead. Just when our economy was recovering and all the indicators were positive, unfortunately, we will have to review the whole situation and our new Ehsaas Program," he said.
Last month, Pakistan had received the third tranche of nearly USD 500 million from the IMF loan program.
"SBP has received IMF tranche of USD 498.7 million (equivalent to SDR 350 million) under the Extended Fund Facility," Pakistan's central bank had tweeted.
The loan was received after the country resumed the USD six billion loan program a couple of weeks ago, which was on hold since the outbreak of the pandemic. (ANI)Get a daily dose of Israel Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Israel Herald.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...