ISLAMABAD: Pakistan Government has asked for convening of a special session of the World Bank’s Aid-to-Pakistan Consortium to discuss the immediate difficulties relating to servicing of foreign loans and the question of pressure on Pakistan’s balance of payment, official sources told APP today [May 1]. The June session will discuss Pakistan’s proposal to provide for a six-month moratorium on re-payment of foreign debts on the part of Pakistan. Discussions for convening a special session of the consortium in June are taking place between Economic Co-ordination and External Assistance Division and envoys of the Consortium countries.

If the June session takes place — for which officials said the response is “very good” — it is expected to be followed by the normal annual session in July, 1971 — for consideration of Pakistan’s aid needs for the development programme for 1970-1971. Pakistan Government, official sources said, has asked the envoys of the Consortium countries that it will be unable to pay the debt instalments during the months of May and June this year....

Published in Dawn, May 2nd, 2021

Opinion

No Eid for Sachal
16 May 2021

No Eid for Sachal

All this pain has been inflicted on man by man. When reason fails, this is what man resorts to. Naked barbarity.
US exit: security implications
16 May 2021

US exit: security implications

All indications are that transnational terrorist groups are gearing up to increase their operations in the region.

Editorial

16 May 2021

Riyadh-Tehran thaw

SEVERAL official pronouncements over the last few days have confirmed that efforts are underway behind the scenes to...
16 May 2021

Ruthless evictions

FOR a state to deprive residents of their homes without providing for alternative housing for them is a dereliction...
16 May 2021

Wheat concerns

THE new official projections for provisional wheat output suggest that Punjab may harvest around 20.5m tonnes of...
Eid during Covid
Updated 13 May 2021

Eid during Covid

It is indisputable that our actions now will prevent matters from becoming far worse.
Updated 14 May 2021

Foreign policy gaffes

MIXED messages, retractions and clarifications from the government have become an all-too-common occurrence when it...
Zimbabwe series win
Updated 15 May 2021

Zimbabwe series win

For millions of Pakistani fans, it was a thrilling experience to see their team returning to its winning ways.