saudi arabia rolls
| | |

Saudi Arabia rolls over $5bn Pakistan deposit

ByJustpaste.in

Pakistan’s external financing pressure has eased after Saudi Arabia extended a $5 billion deposit for another three years, State Bank of Pakistan Governor Jameel Ahmad said on Wednesday.

The rollover will give Pakistan additional breathing space as it manages its external debt obligations and works to strengthen its foreign exchange position.

According to the governor, the Saudi deposit has been extended until December 2028. The development has reduced Pakistan’s gross external financing requirement for the current fiscal year to around $21.5 billion.

Pakistan has received a total of $8 billion in deposits from Saudi Arabia. This includes $3 billion received in April this year.

The remaining $5 billion had previously been rolled over annually. The latest arrangement provides Pakistan with a longer repayment period and reduces immediate pressure on its external account.

Ahmad said lower interest costs on foreign debt had also helped reduce Pakistan’s financing requirements. He estimated the reduction at nearly $500 million.

Pakistan continues to rely significantly on external financing to meet debt repayments and cover external account needs. The government is seeking to increase exports, attract investment and improve other sources of foreign exchange.

The governor said the International Monetary Fund has projected Pakistan’s external financing requirements at around $30 billion for the next fiscal year.

However, he said the estimate could be revised downward if the government succeeds in securing additional longer-term financing and improving external inflows.

According to Ahmad, Pakistan’s $21.5 billion financing requirement includes around $7.3 billion in cash deposits and approximately $3.5 billion in foreign commercial loans maturing during the year.

Pakistan also owes around $250 million to Kuwait through a long-standing cash deposit arrangement.

The governor did not comment on reports concerning Pakistan’s request for a $10 billion credit facility from the United States. He said the federal government would be in a better position to respond to the matter.

Pakistan also repaid a $1.3 billion Chinese commercial loan during July. The repayment temporarily reduced the country’s foreign exchange reserves to around $17.3 billion as of July 17.

Ahmad said China was expected to refinance the amount, with the funds potentially arriving next month.

Of Pakistan’s total external financing needs, around $7.5 billion represents net debt repayments. The country had already repaid approximately $2.2 billion during July, reducing the pressure for the remaining months of the fiscal year.

The central bank governor also revealed that the State Bank had purchased around $9 billion from the local foreign exchange market during the previous fiscal year.

The purchases were aimed at strengthening the country’s foreign exchange reserves. Over the past three years, the central bank’s total purchases from the market have reached around $28 billion.

The State Bank expects workers’ remittances to continue supporting Pakistan’s external position. Remittances are projected to help finance a significant portion of the expected trade deficit.

The central bank has also set a target of increasing foreign exchange reserves to $20.20 billion by the end of December 2026.

Meanwhile, Ahmad told the Senate Standing Committee on Finance that the federal government had not allocated a subsidy for remittance transfers.

He said commercial banks would now bear the cost of transferring workers’ remittances. Overseas Pakistanis sending money home would not be charged additional transfer fees.

The committee also reviewed banking charges and services, including SMS alerts and card transactions.

Similar Posts

  • |

    West Indies stun Pakistan by 90 runs

    ByJustpaste.in

    West Indies defeated Pakistan by 90 runs in the first Test of the two-match series on Tuesday. Pakistan failed to chase down a target of 211 runs. The national team was bowled out for just 120 runs in its second innings. The match was played at the Brian Lara Academy in Tarouba. Pakistan’s batters struggled badly on a difficult pitch. The West Indies fast bowlers maintained constant pressure throughout the innings. Pakistan began their chase with hopes of securing a win. However, the batting line-up collapsed quickly. Eight Pakistani batters failed to score in double figures. Captain Babar Azam was the only batter who offered strong resistance. He remained unbeaten on 58 runs. However, he received little support from the other end. Azan Awais, Imam-ul-Haq and Shan Masood were dismissed for three runs each. Ali Usman scored two runs. Khurram Shahzad made four runs. Salman Ali Agha, Aamer Jamal and Mohammad Ali were dismissed without scoring. The repeated fall of wickets left Pakistan in serious trouble. Earlier, West Indies resumed their second innings on the fourth day at 126 for seven. Their batters added 55 more runs before being bowled out for 181. West Indies entered the second innings with a 29-run lead from the first innings. That advantage proved crucial. It allowed the hosts to set Pakistan a target of 211 runs for victory. Pakistan’s batters found the target extremely difficult to chase. The pitch offered assistance to the bowlers. West Indies used the conditions effectively and kept taking wickets at regular intervals. The visitors had earlier scored 282 runs in their first innings. Shan Masood was Pakistan’s leading batter. He scored an impressive 109 runs. Imam-ul-Haq also made an important contribution. He scored 63 runs. However, the rest of the batting line-up failed to build enough partnerships. Justin Greaves was the standout bowler for West Indies in Pakistan’s first innings. He claimed five wickets and played a key role in restricting Pakistan to 282. West Indies had scored 311 runs in their first innings. Shai Hope was among their top performers. He scored 92 runs and narrowly missed a century. Kavem Hodge also played an important innings. He scored 84 runs and helped West Indies post a competitive total. Pakistan’s Mohammad Ali was the leading bowler in the first innings. He took four wickets. Mohammad Abbas also impressed with the ball and claimed three wickets. The match remained competitive because of the difficult batting conditions. However, West Indies handled the pressure better in the crucial moments. Pakistan’s second-innings collapse eventually handed West Indies a convincing victory. The hosts bowled the visitors out for 120 runs.

  • | |

    Mir Raza exhumation halted over medical board row

    ByJustpaste.in

    The exhumation of Mir Ali Raza’s body has been postponed for Friday, his father’s lawyer Jibran Nasir said. Nasir spoke to the media and raised serious concerns over the medical board formed for the case. He said a third notification regarding the medical board had been issued. According to Nasir, the first and second medical boards were merged to form a new third board. However, he said the family does not accept the latest notification. He said Mir Raza’s parents had already recorded their statements before the investigating officer. Nasir said the family would not allow the exhumation to take place under the supervision of what he called a disputed medical board. He described the exhumation as a sensitive legal process. He said the court had directed the police surgeon and police to take necessary action. A medical team was formed after the court’s directions. However, Nasir alleged that the medical board was changed overnight. He said the sudden change had raised serious questions for the family. He questioned why doctors from Karachi were not included in the new board. He also questioned the removal of doctors who had been part of the earlier medical board. Nasir asked why a new board was formed without first withdrawing the previous notification. He also questioned why the new notification was issued during the night. He questioned the role of the Director General Health in Hyderabad. He asked under which law the official became the supervising officer of the medical board. Nasir also questioned how the orders of the Karachi police surgeon were superseded. He asked which order of the health secretary was referred to in the letter issued from Hyderabad. He said the family would not accept any alternative arrangement. They would only recognize the previously constituted eight-member medical board. Nasir also raised questions about the investigation into Mir Raza’s death. He said the investigating officer could not recover a bullet casing for eight days. According to him, the casing was recovered only after the family approached the court. He questioned how important the casing could be without the recovery of the pistol allegedly used in the incident. Nasir also alleged that the investigating officer had not properly inspected Mir Raza’s room. He said the family had lost a young member and wanted the case to be investigated with complete seriousness. He stressed that an exhumation was not an ordinary procedure. Meanwhile, preparations for the exhumation had been completed at the PECHS cemetery in Karachi. A police team had also reached the cemetery.

  • |

    Epstein Files , who is Gisele Attias Bonnouvrier?

    ByJustpaste.in

    The release of the Epstein files by the US Department of Justice has brought a French modelling agent’s name into the spotlight, raising questions about her connections to the disgraced financier. Gisele Attias Bonnouvrier, who ran the “Mill Valley Connection” agency, was identified in 2013 email exchanges with Jeffrey Epstein, according to documents reviewed by student journalists at California’s Redwood High School. The emails, which came to public attention as part of the broader release of Epstein-related files, outlined potential business proposals between Bonnouvrier and Epstein. These included casting fees for introducing models, image usage rights, sponsorship of events and modelling conventions, and acting as his Paris correspondent. One specific message referenced: “Regarding Hannah, my Austrian model, we can come and see you this evening if you are interested, and in that case let me know how I can get my fees.” The correspondence suggests a transactional relationship centered around the modelling industry, though the full extent of their interactions remains unclear. The investigation began as a school assignment for Ben Mueller, a student at California’s Redwood High School, who scoured the Epstein files for connections to his local Marin County. His findings, which highlighted “Mill Valley” in an Instagram slideshow, gained widespread attention online. The exposure prompted Bonnouvrier to email the school demanding the removal of her name from the coverage and threatening legal action. In her communication, Bonnouvrier denied providing women to Epstein, and there is no public record of her facing criminal charges in connection with the case. The Epstein files, released by the US Department of Justice, have been a subject of intense public interest, revealing the extensive network of associates connected to the late financier. Epstein, who died in 2019 while awaiting trial on sex trafficking charges, had a long history of connections to powerful figures in politics, business, and entertainment. The release of these documents has reignited debates about accountability and the extent of Epstein’s influence. Bonnouvrier’s name is among dozens that have surfaced in the files, though her role appears to be that of a business associate rather than a direct participant in Epstein’s criminal activities. Her denial of providing women to Epstein and the absence of charges against her suggest that her involvement may have been limited to professional interactions. However, the nature of her correspondence with Epstein has drawn scrutiny, particularly given the context of his well-documented history of exploiting young women. The role of student journalists in uncovering Bonnouvrier’s connection to Epstein highlights the power of investigative journalism, even at the high school level. Mueller’s work demonstrates how ordinary citizens can contribute to holding powerful figures accountable. As the public continues to sift through the Epstein files, more names and connections are likely to emerge, shedding further light on the network of individuals who enabled Epstein’s activities. For now, Bonnouvrier’s name stands as a reminder of the far-reaching web of associates that surrounded one of the most notorious figures in modern history.

  • |

    Nicole Kidman reveals her secret ‘stealth mode’ for nights out

    ByJustpaste.in

    Nicole Kidman has a clever trick for going out in public without being recognised. She calls it her stealth mode. Speaking with British Vogue, the “Babygirl” star opened up about how she enjoys ordinary outings and summer trips across Europe while keeping her identity under wraps. Her secret weapon is a slightly darker wig paired with a simple pair of glasses. Kidman described herself as genuinely skilled at slipping in and out of places unnoticed. She named cities like London, Ibiza, Paris and Portofino as regular stops during her European summers. She explained that her evenings can range from a quiet dinner party to a full night out dancing. According to her, it really comes down to two simple options, playing Scrabble at home or heading out for the night. Kidman described her typical evening rhythm in detail, starting with dinner around 10:30 pm and moving to a club by 1 am. She said she’ll usually put on glasses to help blend into the crowd. She admitted that sometimes she goes a step further, adding a dark wig to fully disguise her look. Once disguised, she said, she is free to simply enjoy dancing without being noticed. Kidman noted that staying surrounded by trusted people is essential to feeling comfortable during these outings. She said she always brings people along with her, describing that sense of company as something she genuinely needs. Elsewhere in the conversation, Kidman reflected on how differently she viewed life before her recent divorce from Keith Urban. She said she has since adopted more of a feelings-first approach to both her personal life and career. She explained that she does not want to be ruled entirely by logic anymore. According to Kidman, she once had a very different vision for how her life would unfold, but reality simply turned out differently. She said people often build detailed plans and expectations, only to find life does not follow that script. Kidman added that adjusting and adapting has become necessary, describing her future right now as something entirely unknown to her.

  • |

    August 12 total solar eclipse, will it be visible in Pakistan?

    ByJustpaste.in

    Islamabad – A rare total solar eclipse will occur on August 12, 2026 attracting the attention of astronomy enthusiasts around the world. However, will it be visible in Pakistan? The solar eclipse will not be visible in Pakistan as it will be nighttime in the country during the key phases of the eclipse. According to Pakistan Standard Time, the partial eclipse will begin at 8:34 PM on August 12 while the total eclipse will begin at 9:58 PM. The eclipse will reach its peak at 10:46 PM and the total eclipse will end at 11:34 PM. Where will solar eclipse be visible? On August 12, the Moon will pass between the Earth and the Sun causing a total solar eclipse to be visible in Greenland, Iceland, northern Russia and parts of Spain and Portugal. A partial solar eclipse will be visible across various parts of North America, Canada, most of Europe and northwestern Africa. According to NASA, the Sun will set during the eclipse in western parts of Europe and Africa creating a unique spectacle in which the solar eclipse will coincide with sunset. How can solar eclipse be watched live? NASA will also provide an online live broadcast of this astronomical event which can be watched online from Pakistan on the night of August 12. Astronomers have warned people in areas where the eclipse will be visible never to look directly at the Sun without specially designed solar-viewing glasses as doing so can cause severe damage to the eyes.

  • | | |

    Update on Fatal Bangkok Pub Fire, Started at Stage Say Witnesses, Most of the 27 Dead Found in Bathrooms, At Least 18 People Injured

    ByJustpaste.in

    Bangkok- A fire at Rong Beer Na Ladprao, a popular restaurant and pub on Lad Phrao Road in Bangkok’s Chatuchak district, has claimed at least 27 lives, according to the latest update from Thailand’s Department of Disaster Prevention and Mitigation (DDPM). The blaze broke out around midnight, turning a lively evening venue into a scene […]

Leave a Reply

Your email address will not be published. Required fields are marked *