World Bank sets tough loan terms
Finance ministry seeks three budget support loans totalling $1.5b before end of June
Alpha Beta Core CEO Khurram Schehzad said the new regulations would improve the rupee-dollar parity. PHOTO: FILE
ISLAMABAD:
The World Bank has set tough conditions for $1.5 billion lending such as increase in electricity rates, introduction of new power and tax policies, putting the government in a tight spot that is already seeking a review of the International Monetary Fund (IMF) deal.
The finance ministry was seeking three budget support loans totalling $1.5 billion from the World Bank before the end of June, sources told The Express Tribune.
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