August 23, 2022
1 min read

Pakistan to provide security for FIFA WC

The approval was given by the federal cabinet to the Pakistan Army-Qatar agreement on providing assistance during the mega football event…reports Asian Lite news

The Pakistan Army will assist Qatar with security in the upcoming FIFA World Cup 2022 being held in the Middle Eastern country.

The approval was given by the federal cabinet to the Pakistan Army-Qatar agreement on providing assistance during the mega football event from November 20 to December 18, The News reported.

The Gulf country will be hosting the extravaganza for the very first time.

Pakistan will receive $2 billion from Qatar in bilateral support to help ease the South Asian nation’s funding crunch and the consequent risk of a default, the State Bank of Pakistan (SBP) said.

The country will also get $1 billion in oil financing from Saudi Arabia and a similar amount in investments from the UAE, The News reported.

All the funds are expected over twelve months, SBP deputy governor Murtaza Syed said in a briefing.

Prime Minister Shehbaz Sharif is visiting Qatar on August 23 and 24 and “an announcement of the assistance may or may not be announced during the trip”, Syed added.

The pledges come before an International Monetary Fund (IMF) board meeting on August 29 that could lead to the release of $1.2 billion in financing.

Arab nations had committed to supporting Pakistan only after it secured an IMF programme, while the Washington-based lender has been seeking a commitment from Saudi Arabia.

The Pakistan rupee is the best performer globally this month and has gained 11 per cent since dropping to a record low last month as worries over a possible default fade, according to data tracked by Bloomberg.

The SBP, meanwhile, left its benchmark interest rate unchanged due to easing external financing worries amid indications that the country may soon receive a bailout approval from the IMF.

ALSO READ: Monsoon rains leave 820 dead in Pakistan

Previous Story

Odisha tribals fight against malnutrition

Next Story

Judge rejects DoJ’s contention on Trump raid affidavit

Latest from -Top News

Quantum Leap Secures India’s Edge

The Minister said India has entered a new quantum era, set to transform future warfare….reports Asian Lite News India has taken a major leap in defence and cyber security by successfully demonstrating

India’s Growth Defies West Asia Tensions

The deepening crisis in West Asia, particularly between Israel and Iran, has had little to no visible impact on India’s economic trajectory or its export performance….reports Asian Lite News The limited trade

FM Sitharaman Embarks on Three-Nation Tour

She is leading the Indian delegation from the Department of Economic Affairs under the Ministry of Finance….reports Asian Lite News Union Finance Minister Nirmala Sitharaman commenced her official visit to Spain, Portugal,

Jaishankar Heads to US for Quad Talks

EAM Jaishankar will be inaugurating an exhibition titled, “The Human Cost of Terrorism” at the United Nations Headquarters, New York on June 30….reports Asian Lite News External Affairs Minister (EAM) S. Jaishankar
Go toTop

Don't Miss

Pakistan takes up India’s missile misfire with UN Chief

Qureshi briefed Guterres over the phone on the so-called ‘accidental’

Pakistan Closes Iran, Afghanistan Borders

Border crossings with Afghanistan and Iran would remain closed both