World Bank Places tough loan conditions for Pakistan
The world bank has placed tough conditions for the $1.5 billion loans. The increase in electricity rates, implementation of new power, and tax policies are putting the government in a difficult situation which is already seeking a review of the IMF- the International Monetary Fund deal.
According to the reports shared by the ministry of finance, these loans are a part of overall requirements of $27 billion for external financing for the current fiscal year, FY21.
However, as per the sources, a request has been made by the government to World Bank for providing $500 million each as under the Resilient Institutions for the Sustainable Economy (RISE-II), meanwhile securing the Human Investments to Foster Transformation (SHIFT-II) and also the Programme for Affordable and Clean Energy (PACE).
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