The Asian Development Bank (ADB) has approved an additional $48 million loan for the Balochistan Water Resources Development Sector Project (BWRDSP), the bank announced on Wednesday. The extra financing aims to complete several key components delayed earlier due to budget shortfalls. Read More: World Bank approves $200m water project for Balochistan The BWRDSP, cleared by the Central Development […]
ADB
ADB to invest $10bn in CAREC projects
ISLAMABAD: The Asian Development Bank (ADB) has announced plans to invest over $10 billion by 2030 to support projects under the Central Asia Regional Economic Cooperation (CAREC) programme, aiming to foster a digitally connected and resilient region. The announcement was made during a ministerial conference in Bishkek, where CAREC ministers endorsed the ‘Bishkek Declaration’ to […]
Work resumes on Karachi’s Red Line BRT but timeline still uncertain
KARACHI: Construction work on the long-delayed Red Line Bus Rapid Transit (BRT) project has resumed after nearly two months of suspension, following the intervention of the Sindh chief minister. However, despite renewed assurances, no clear timeline for completion has been shared, leaving thousands of daily commuters along University Road to continue facing severe inconvenience. The […]
Pakistan borrows Rs515 billion in first quarter
The government of Pakistan borrowed Rs515 billion during the first quarter (July–September) of the fiscal year 2025–26, marking a 41% increase from Rs363 billion borrowed in the same period last year, according to a report by the Ministry of Economic Affairs. The breakdown shows Rs198 billion borrowed in July, Rs192 billion in August, and Rs124 […]
Pakistan’s economic growth to hover at 2.44% in FY25, LSE warns
Pakistan’s economic growth is projected to be a modest 2.44% in the fiscal year 2024–25, showing only a slight improvement from last year’s 1.7%, according to the Lahore School of Economics (LSE) Modelling Lab. This forecast aligns closely with recent downward revisions by the Pakistan Bureau of Statistics and estimates by the World Bank, IMF, […]
Pakistan and ADB sign financing agreements for $1.54b
ISLAMABAD: Pakistan inked six agreements with the Asian Development Bank (ADB) on Wednesday to secure $1.54 billion in financing. The agreements were signed in the presence of Minister for Economic Affairs Omar Ayub Khan by the secretary of the Economic Affairs Division and the country director of the ADB. Under the agreements, $300 million […]
Balakot Hydropower project to generate over 1200 jobs: ADB
With the preparatory work completed, the Balakot Hydropower Development Project is now ready to move ahead that would generate over 1200 new jobs, about 40 percent of which will be sourced locally, the Asian Development Bank said in a statement. It said the project would also provide livelihood skills training for women. “Water indeed can […]
Govt plans to boost spending on large infrastructure projects
Minister for Finance Affairs Shaukat Tarin has said that Pakistan planned to boost spending on large infrastructure projects by as much as 40 percent to create jobs and foster productivity in an economy crippled by the coronavirus pandemic. In an interview with Bloomberg, he said that the federal government would earmark as much as Rs […]
$6-8bn IMF bailout deal ‘almost done’: Pakistan
Finance Minister Asad Umer Monday revealed that the bailout package ‘agreed in principle’ with the International Monetary Fund (IMF) will be around $6-8 billion. Briefing the National Assembly Standing Committee on Finance, Revenue and Economic Affairs, Asad Umer said the IMF has finalised a bailout package for Pakistan during talks between the two sides at […]
Pakistan discusses economy, reforms with WB, ADB
Finance Minister Asad Umar and the Pakistani delegation he has been leading met with representatives of the Asian Development Bank (ADB) and World Bank (WB) and discussed the issues related to economy and the reforms measures taken by Pakistan. They also held a number of bilateral meetings on the sidelines of the International Monetary Fund […]