Islamabad: After the IMF program, Pakistan has decided not to take expensive loans from commercial banks at 11 percent interest rate.
According to sources, Prime Minister Shehbaz Sharif prohibited the finance minister from taking expensive loans, on which the finance ministry decided not to take expensive commercial loans from Standard Chartered.
Sources said that to meet the financing gap, a loan agreement of 600 million dollars was signed with the commercial bank at an interest rate of 11 percent, but now the loan amount will not be obtained from other sources in case of financing gap as per IMF conditions. A loan will be obtained at a low interest rate.
Sources said that this decision of the government is a violation of the loan agreement with the commercial bank, and the government may face difficulties in applying for a loan again in the future.
