Tough Loan Conditions Set for Pakistan by World Bank
The World Bank has recently set tough terms and conditions for $1.5 billion lending like increase in the rates of electricity, introduction of the new power as well as the tax policies, putting the government as in a tight spot which is already seeking a review of IMF- the International Monetary Fund deal. According to…
The World Bank has recently set tough terms and conditions for $1.5 billion lending like increase in the rates of electricity, introduction of the new power as well as the tax policies, putting the government as in a tight spot which is already seeking a review of IMF- the International Monetary Fund deal.
According to the sources of finance Ministry, these loans are a part of overall requirements of $27 billion for external financing for the current fiscal year, FY21.
However, as per the sources, a request has been made by the government to World Bank for providing $500 million each as under the Resilient Institutions for the Sustainable Economy (RISE-II), meanwhile securing the Human Investments to Foster Transformation (SHIFT-II) and also the Programme for Affordable and Clean Energy (PACE).
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