 on Wednesday.){kind=link}
Malik Bostan: ready to provide $1bn to Govt. Chairman of the Exchange Companies Association of Pakistan (ECA) on Wednesday. Offering a cash-strapped coalition government of providing $1 billion monthly for the next two years.
The declaration from Malik Bostan comes as the country’s economy fight challenges on the foreign exchange front.
Informing Senate Standing Committee on Finance, chaired by Senator Saleem Mandviwala, Bostan said that ECA set to provide $1bn to Pakistan for two years as International Monetary Fund (IMF) was delaying a $6 billion bailout program by putting one later another condition.
He said that every month billions of dollars smuggled from Pakistan in the form of official and unofficial trade. And through the borders, all of which are burdening Pakistan’s foreign exchange reserves.
Bostan further said, “A need to give the market a free hand, a lot of money wasted in cryptocurrency and foreign forex trade.”
He need the coalition government of give Hundi/Hawala license to exchange companies on a structure of Dubai and UK.
Malik Bostan: ready to provide $1bn to Govt. Shehbaz Sharif-led government taking brave measures to get much-needed funds. But the IMF not looking satisfied with the preceding steps taken by the current government.
Fawad Chaudhry: No chance of minus Imran Khan
The staff-level agreement between the IMF and Pakistan scheduled to take place on February 9.
Elon Musk puts Twitter’s value at $20 billion
In new term, the International Monetary Fund (IMF) wants friendly countries to honor their sincerity to fund cash-strapped. Pakistan earlier the joint lender signs off on a $6.5 billion bailout program.