ISLAMABAD – Pakistan government seek $22 external loan in next five yearsterm to control fiscal deficit, media report has revealed.
Federal government on Friday revealed that it will borrow additional fundsin the next five years owing to greater need for bridging the fiscaldeficit and keeping it within the projected target.
Debt Office of Finance Division Director General Abdul Rehman Warraichshared these details after parliament asked the government to explain itsfive-year debt management plan, projected strategic targets of debtmaturity and diversification.
Rehman informed the NA’s Standing Committee on Finance, led by Asad Umar,that the government would borrow almost $22bn from external sources by endJune 2020, which will increase total external public debt to around $98bn.
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The government has projected to payback almost $8bn by June 2020. The DGalso explained that medium-term debt strategy (MTDS) is focusing onprojection, which the government believes that it can be achieved over thenext five years.
