ISLAMABAD – The Pakistan Tehreek e Insaaf (PTI) led Federal Government inPakistan has borrowed US$2.3 billion in the first half of the currentfiscal year (FY), according to the Economic Affairs Division.
During the July-December period of the fiscal year 2018-19, the governmentborrowed US$836 million from China, and US$500 million from commercialbanks, the Economic Affairs Division said.
The government also took out US$339 million in loans from the AsianDevelopment Bank, and US$272 million from the Islamic Development Bank.
During the same period in 2017, borrowing stood at $5.9 billion fromexternal resources.
Earlier, former speaker and PML-N leader Ayaz Sadiq had urged thegovernment to take the parliament into confidence over its talk with theIMF, Saudi Arabia and China.
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Responding to it, Finance Minister Asad Umar said that the government wasseeking loans from multiple sources in order to get a loan from theInternational Monetary Funds (IMF) on better terms.
Pakistan secured a $3billion deal when Prime Minister Imran Khan visitedSaudi Arabia, he said.
