4 days ago
Bankrupt Pakistan gets Rs 70000000000 from...., secures important position in UNSC, to get jackpot in July
Pakistan PM Shehbaz Sharif
In a massive good news for Pakistan amid its growing financial issues, Pakistan has received a big economic package from the Asian Development Bank (ADB). Opening a new plethora of economic opportunities, the ADB has reportedly granted 800 million dollars i.e. about 6,871 crore rupees (approximately Rs 70000000000) to Pakistan. In addition to this, Pakistan has also been given important responsibilities in the United Nations Security Council (UNSC). Here are all the details you need to know about the recent developments on Pakistan. UNSC brings good news for Pakistan
In addition to this, Pakistan has also been made the chairman of the 1988 Taliban Sanctions Committee in the UNSC. For those unversed, the UNSC 1988 Taliban Sanctions Committee works to impose sanctions on people and organizations associated with the Taliban.
More notably, Pakistan, under the leadership of Shehbaj Sharif will also become the president of the UNSC in July 2025. India's opposition to ADB's Pakistan grant
India had vehemently opposed ADB's decision to grant USD 800 million loan to Pakistan saying the fund could be misused for increasing expenditure on its military, as per a report by news agency.
'India shared deep concerns regarding the potential misuse of ADB resources, particularly in light of Pakistan's increasing defence expenditure, its declining tax-to-GDP ratio, and the lack of demonstrable progress on key macroeconomic reforms,' they said. ADB's massive grant to Pakistan
Asian Development Bank (ADB) earlier approved USD 800 million programme to strengthen fiscal sustainability and improve public financial management in Pakistan.
Earlier in the day, the Congress in a post on X quipped that Prime Minister Narendra Modi met ADB President Masato Kanda on June 1 and three days later ADB cleared the USD 800-million loan to Pakistan.
More notably, Modi government's influence did not work on the IMF earlier as earlier in May, Pakistan received 1 billion dollars (8,500 crore rupees) from the International Monetary Fund (IMF) amid raging India-Pakistan tensions.
(With inputs from agencies)
