📌 Key Highlights & Quick Takeaways:
- The government of Pakistan has approved additional foreign borrowing from the Asian Development Bank (ADB) totaling $750 million, i.e. about.
- The purpose of these loans is to make the federal pension system sustainable, to reduce the long-term financial obligations of pensions and.
- According to government officials, the Concept Clearance Committee headed by Planning Commission Deputy Chairman Ahsan Iqbal approved the tw.
The government of Pakistan has approved additional foreign borrowing from the Asian Development Bank (ADB) totaling $750 million, i.e. about Rs 209 billion, for pension reforms and promotion of public-private partnerships.
The purpose of these loans is to make the federal pension system sustainable, to reduce the long-term financial obligations of pensions and to promote the private sector's participation in government development projects.
According to government officials, the Concept Clearance Committee headed by Planning Commission Deputy Chairman Ahsan Iqbal approved the two loans recently.
After the formal proceedings of the committee meeting, the government will now finalize the loan terms and other procedures with ADB.
According to officials, $500 million, or about Rs. 139 billion, should be obtained for pension reforms, while $250 million, or about Rs. 70 billion, should be obtained for the public-private partnership program.
