Pakistan Borrows $750 Million Loan for Pension and PPP Reforms
The government has approved borrowing $750 million, equivalent to Rs. 209 billion, from the Asian Development Bank (ADB) for pension … Read More The post Pakistan Borrows $750 Million Loan for Pension and PPP Reforms appeared first on ProPakistani .
Pakistan's government has approved a $750 million loan from the Asian Development Bank (ADB) to fund pension reforms and a public-private partnership (PPP) program, as the country's total debt and liabilities approach Rs. 100 trillion. The funds will be allocated to reduce existing pension liabilities, introduce a defined contribution pension scheme, and enhance service delivery within the federal pension system.
Additionally, the loan will strengthen the legal and institutional framework for PPPs, aiming to improve public investment management and financial management. The $500 million pension program is designed to improve fiscal sustainability, governance, administration, and service delivery in the pension system. The committee overseeing the approval emphasized the need for tangible outcomes from previous pension reforms and stressed the importance of fiscal stabilization to increase funding for the Public Sector Development Program and stimulate economic growth and job creation.
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