{"id":95860,"date":"2023-12-18T12:44:17","date_gmt":"2023-12-18T07:44:17","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=95860"},"modified":"2023-12-18T12:44:18","modified_gmt":"2023-12-18T07:44:18","slug":"dr-akhtar-announces-plans-to-geneate-bn","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/dr-akhtar-announces-plans-to-geneate-bn.html","title":{"rendered":"Pak to raise USD 4.5bn in FY23-24 from sources other than IMF: FM Akhtar"},"content":{"rendered":"\n<p>Islamabad: The Pakistan Finance Minister (FM) Dr Shamshad Akhtar, in a recent interview with the official ICMA International Journal, has shed light on the country\u2019s ambitious plan to raise approximately USD 4.5 billion from both multilateral and bilateral sources other than IMF, according to a news source December 13.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/fbr-briefs-imf-tax-reforms-strategies.html\" target=\"_blank\" rel=\"noreferrer noopener\">FBR assures IMF of dedicated efforts in tax-collection reforms<\/a><\/p>\n\n\n\n<p>As per the details, Dr Akhtar outlined that, for the second quarter (Q2), the government anticipates receiving over USD 1.6 billion from various sources. Among the major creditors are the Asian Development Bank, the World Bank, and the Asian Infrastructure Investment Bank, with inflows comprising both project-based and program-based funds.<\/p>\n\n\n\n<p>Discussing the IMF program, Dr Akhtar mentioned the successful conclusion of the first review of the Standby Agreement and the achievement of a Staff Level Agreement (SLA). Subject to approval by the IMF\u2019s Executive Board, upon agreement, Pakistan stands to gain access to SDR 525 million, equivalent to around USD 700 million.<\/p>\n\n\n\n<p>Fitch Ratings, in a recent note, highlighted the recovery of Pakistan\u2019s forex reserves due to inflows of new funding and limited current account deficits, projecting further increases. The official gross reserves, including gold, reached USD 12.7 billion in October, up from USD 8 billion at the beginning of 2023 but still below the peak of USD 23 billion at the end of 2021.<\/p>\n\n\n\n<p>Furthermore, the Central Bank\u2019s net liquid forex reserves, hovering at just over USD 7 billion since October, have shown improvement from a low of about USD 3 billion in January. This improvement has been attributed to a contraction in imports, positively impacting reserve coverage ratios.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/imf-reaches-agreement-pakistan.html\" target=\"_blank\" rel=\"noreferrer noopener\">Energy sector\u2019s overhaul atop agenda as Pak gets nod from IMF<\/a><\/p>\n\n\n\n<p>Dr Akhtar acknowledged that negotiations for certain program loans have concluded, and disbursements are imminent. She reassured that the country is meeting its debt obligations promptly and intends to continue doing so in the future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The Pakistan Finance Minister (FM) Dr Shamshad Akhtar, in a recent interview with the official ICMA International Journal, has shed light on the country\u2019s ambitious plan to raise approximately USD 4.5 billion from both multilateral and bilateral sources other than IMF, according to a news source December 13. Read: FBR assures IMF of dedicated efforts in tax-collection reforms As per the details, Dr Akhtar outlined that, for the second quarter (Q2), the government anticipates receiving over USD 1.6 billion from various sources. Among the major creditors are the Asian Development Bank, the World Bank, and the Asian Infrastructure Investment Bank, with inflows comprising both project-based and program-based funds. Discussing the IMF program, Dr Akhtar mentioned the successful conclusion of the first review of the Standby Agreement and the achievement of a Staff Level Agreement (SLA). Subject to approval by the IMF\u2019s Executive Board, upon agreement, Pakistan stands to gain access to SDR 525 million, equivalent to around USD 700 million. Fitch Ratings, in a recent note, highlighted the recovery of Pakistan\u2019s forex reserves due to inflows of new funding and limited current account deficits, projecting further increases. The official gross reserves, including gold, reached USD 12.7 billion in October,&hellip;<\/p>\n","protected":false},"author":88,"featured_media":95861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20385],"tags":[57740,3293,8328,57280],"persona":[],"class_list":{"0":"post-95860","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-development-projects","8":"tag-dr-shamshad-akhtar","9":"tag-finance-minister","10":"tag-government-of-pakistan","11":"tag-latest-news","12":"cat-20385-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dr Akhtar Announces Plans to Geneate Bn - Zameen News<\/title>\n<meta name=\"description\" content=\"Dr Akhtar, in one of her recent interviews, has announced plans of generating millions USD in forthcoming times from sources other than IMF.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/dr-akhtar-announces-plans-to-geneate-bn.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dr Akhtar Announces Plans to Geneate Bn - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Dr Akhtar, in one of her recent interviews, has announced plans of generating millions USD in forthcoming times from sources other than IMF.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/dr-akhtar-announces-plans-to-geneate-bn.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; Pakistan Property News &amp; Latest Updates - Zameen News\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ZameenPK\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-18T07:44:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-18T07:44:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news-cdn.zameen.com\/wp-content\/uploads\/2023\/12\/News-Cover-1170x400-9-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1170\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Muhammad Zohaib Nasir\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:site\" content=\"@ZameenProperty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Muhammad Zohaib Nasir\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Dr Akhtar Announces Plans to Geneate Bn - Zameen News","description":"Dr Akhtar, in one of her recent interviews, has announced plans of generating millions USD in forthcoming times from sources other than IMF.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.zameen.com\/news\/dr-akhtar-announces-plans-to-geneate-bn.html","og_locale":"en_US","og_type":"article","og_title":"Dr Akhtar Announces Plans to Geneate Bn - Zameen News","og_description":"Dr Akhtar, in one of her recent interviews, has announced plans of generating millions USD in forthcoming times from sources other than IMF.","og_url":"https:\/\/www.zameen.com\/news\/dr-akhtar-announces-plans-to-geneate-bn.html","og_site_name":"Pakistan Real Estate News &amp; 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