31 C
Wednesday, April 24, 2024

PM praises COAS for securing $3 billion from Saudi Arabia, UAE


At a cabinet meeting on Monday, Prime Minister Sheikh Baz Sharif hailed Army Chief of Staff General Asim Munir for his “key role” in securing $3 billion in funding from Saudi Arabia and the United Arab Emirates, ultimately securing the IMF’s Contributed to the rescue of the organization.

“Army Chief Asim Munir played a key role in bringing in $2 billion from Saudi Arabia and $1 billion from the UAE,” the prime minister told his cabinet in a teleconference.

He briefed the cabinet on a nine-month stand-by deal the government struck with the Washington-based bank last week. He also thanked IMF Managing Director Kristalina Georgieva for her role in the rescue package.

“The first tranche from the IMF will be received in July,” Prime Minister Sheikh Baz told ministers. He added that China had helped Pakistan months before the deal, as it has done in the past, adding that the situation would have been different had Beijing agreed to an extension of $5 billion.

“If there hadn’t been an agreement with the IMF, then things would have been different,” he added.

However, the prime minister said the nine-month agreement was a “temporary reprieve” for the country, adding that it was a time of concern rather than a matter of “pride”.

He also urged all state agencies to work together to eliminate the country’s loans and bring them under the auspices of the government.

Of course we must improve.

“While maintaining their respective jurisdictions, these agencies should work together for at least the next 15 years to address the nation’s economic woes,” he continued. He added that it would take vision, solidarity, hard work and sacrifice of the wealthy people for the country to emerge from loans.

“If we choose this route, no one can stop Pakistan from making progress,” he said.

“I pray this is the last IMF deal. But it’s easier said than done,” he commented, mentioning that state-owned enterprises such as steel mills and PIAs consume about Rs 60,000 crore a year.

Prime Minister Sheikh Baz said that during the remaining 40-42 days of the government, Cabinet members should strive to leave behind a policy framework that provides a roadmap and vision for future developments.

The prime minister said that the entire Muslim world, including the government and people of Pakistan, strongly condemns the burning of the Koran in Sweden.

“We demand that immediate action be taken against the perpetrators. Unfortunately, this is not the first time something like this has happened,” he said.


Source link

Related Articles

UAE Doctors Combat Disease Surge Amidst Floods, Empower with Safety Tips.

UAE Doctors Address Rise in Ailments Amid Rains and Floods with Vital Safety Advice The United Arab Emirates (UAE) is no stranger to the occasional...

Jetronics Group moves to US and Europe Market after Covering GCC Countries – Mohammed Abdulnayeem – CEO

Jetronics Group Surges Into US and European Markets Following Success in GCC Expansion Since its inception in 2017, Jetronics Group has steadily grown its operations...

UAE Banks Offer Potential 6-Month Loan Instalment Deferral in Wake of Storm, Confirms Central Bank

UAE has confirmed that The Central Bank of the UAE are offering the possibility of deferring loan instalments for up to six months following...

NASA’s Revealing Images of UAE’s Flooded Regions Post-Heavy Rains

NASA Unveils Aerial Views of UAE's Flooded Regions A "slow-moving storm" system unleashed unprecedented torrential rains across various parts of the Emirates, inundating the UAE...

Veesham Printing Press – Pioneering Personalized Printing Solutions

In today's fast-paced and increasingly personalized world, where individuality reigns supreme, the demand for tailored printing solutions has never been higher. Enter Veesham Printing...

Latest Articles