AGL 38.00 Increased By ▲ 0.06 (0.16%)
AIRLINK 197.50 Increased By ▲ 3.59 (1.85%)
BOP 9.56 Increased By ▲ 0.24 (2.58%)
CNERGY 5.96 Increased By ▲ 0.12 (2.05%)
DCL 8.87 Increased By ▲ 0.19 (2.19%)
DFML 35.65 Decreased By ▼ -0.81 (-2.22%)
DGKC 97.50 Increased By ▲ 4.96 (5.36%)
FCCL 35.30 Increased By ▲ 1.33 (3.92%)
FFBL 89.00 Increased By ▲ 6.70 (8.14%)
FFL 13.21 Increased By ▲ 0.46 (3.61%)
HUBC 127.70 Increased By ▲ 7.09 (5.88%)
HUMNL 13.49 Decreased By ▼ -0.11 (-0.81%)
KEL 5.38 Increased By ▲ 0.16 (3.07%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 45.00 Increased By ▲ 2.89 (6.86%)
NBP 61.90 Increased By ▲ 2.09 (3.49%)
OGDC 215.50 Increased By ▲ 4.33 (2.05%)
PAEL 39.05 Increased By ▲ 1.47 (3.91%)
PIBTL 8.24 Increased By ▲ 0.17 (2.11%)
PPL 192.40 Increased By ▲ 2.08 (1.09%)
PRL 38.57 Increased By ▲ 0.40 (1.05%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 105.98 Increased By ▲ 8.04 (8.21%)
TELE 8.28 Increased By ▲ 0.06 (0.73%)
TOMCL 35.25 Increased By ▲ 0.22 (0.63%)
TPLP 13.40 Decreased By ▼ -0.15 (-1.11%)
TREET 22.29 Decreased By ▼ -0.44 (-1.94%)
TRG 55.99 Increased By ▲ 3.12 (5.9%)
UNITY 33.00 Increased By ▲ 0.04 (0.12%)
WTL 1.62 Increased By ▲ 0.10 (6.58%)
AGL 38.00 Increased By ▲ 0.06 (0.16%)
AIRLINK 197.50 Increased By ▲ 3.59 (1.85%)
BOP 9.56 Increased By ▲ 0.24 (2.58%)
CNERGY 5.96 Increased By ▲ 0.12 (2.05%)
DCL 8.87 Increased By ▲ 0.19 (2.19%)
DFML 35.65 Decreased By ▼ -0.81 (-2.22%)
DGKC 97.50 Increased By ▲ 4.96 (5.36%)
FCCL 35.30 Increased By ▲ 1.33 (3.92%)
FFBL 89.00 Increased By ▲ 6.70 (8.14%)
FFL 13.21 Increased By ▲ 0.46 (3.61%)
HUBC 127.70 Increased By ▲ 7.09 (5.88%)
HUMNL 13.49 Decreased By ▼ -0.11 (-0.81%)
KEL 5.38 Increased By ▲ 0.16 (3.07%)
KOSM 7.00 Increased By ▲ 0.48 (7.36%)
MLCF 45.00 Increased By ▲ 2.89 (6.86%)
NBP 61.90 Increased By ▲ 2.09 (3.49%)
OGDC 215.50 Increased By ▲ 4.33 (2.05%)
PAEL 39.05 Increased By ▲ 1.47 (3.91%)
PIBTL 8.24 Increased By ▲ 0.17 (2.11%)
PPL 192.40 Increased By ▲ 2.08 (1.09%)
PRL 38.57 Increased By ▲ 0.40 (1.05%)
PTC 25.80 Increased By ▲ 2.35 (10.02%)
SEARL 105.98 Increased By ▲ 8.04 (8.21%)
TELE 8.28 Increased By ▲ 0.06 (0.73%)
TOMCL 35.25 Increased By ▲ 0.22 (0.63%)
TPLP 13.40 Decreased By ▼ -0.15 (-1.11%)
TREET 22.29 Decreased By ▼ -0.44 (-1.94%)
TRG 55.99 Increased By ▲ 3.12 (5.9%)
UNITY 33.00 Increased By ▲ 0.04 (0.12%)
WTL 1.62 Increased By ▲ 0.10 (6.58%)
BR100 11,739 Increased By 355.4 (3.12%)
BR30 36,418 Increased By 1206.5 (3.43%)
KSE100 109,513 Increased By 3238.2 (3.05%)
KSE30 34,513 Increased By 1160.1 (3.48%)

ISLAMABAD: The governments of Japan and Pakistan have agreed on debt deferral amounting to around $160 million, as the last phase of “the G20 Debt Service Suspension Initiative (DSSI)”.

Prior to this, both governments agreed on the first debt deferral amounting to $370 million on April 27, 2021 and the second debt deferral amounting to $200 million on October 22, 2021, under the same initiative.

The total amount of deferred debt has reached $730 million, which will widen the fiscal space for the government of Pakistan to restore its economy affected by the Covid-19 pandemic and the flood disaster.

The concessional loans, subject to debt deferral, have been utilized for infrastructure development such as roads, tunnels, power plants and grids, irrigation, water supply, and drainage facilities in Pakistan from the early 1990s to the mid-2010s. These concessional loans have favorable conditions for Pakistan in terms of low interest rate, as well as long grace and repayment period. Under the last agreement, repayments for the debt and interest due between July 1 and December 31, 2021 will be rescheduled after June 15, 2023.

JICA hands relief goods over to NDMA

In addition to the debt deferral, the government of Japan decided to extend Emergency Grant Aid of $7 million to Pakistan in response to the damages caused by the flood disaster that has occurred in Pakistan since mid-June. This Emergency Grand Aid will allow implementing humanitarian assistance activities for those seriously affected by the flood disaster in different parts of Pakistan through multiple international organizations in areas such as food, shelter and non-food items, health and medical care, as well as water and sanitation.

WADA Mitsuhiro, Ambassador of Japan to Pakistan, reaffirmed his commitment to support Pakistan; “I would like to assure that the Government of Japan stands ready to support the people of Pakistan. Given the rapidly rising scale of needs, we consider it critical to extend our best support and stand available to the affected. As part of the “2022 Floods Response Plan,” we will extend our assistance, ensuring collective and coordinated actions to respond to the national emergency”.

The Government of Japan has already provided tents and plastic sheets as emergency relief goods through JICA, and these items are now being distributed to the people in need.

Copyright Business Recorder, 2022

Comments

Comments are closed.