ISLAMABAD – In a profound act of patriotism, a former Army official onTuesday sent five thousand rupees to Pakistan’s top court to help thecountry rid of massive debts.
In a letter addressed to Chief Justice of Pakistan Mian Saqib Nisar, NaekMuhammad Aslam of Mandi Bahauddin sent the money with the request that theamount may be deposited in Government Treasury as his contribution to helpthe country repay its huge debts.
This reflects the confidence of nation on the institution of judiciary andthe CJP, according to the apex court’s spokesman.
Finding it not to be within the mandate of the institution, the amount wasreturned to Mr. Naek with thanks, while appreciating the gesture.
External Debt in Pakistan averaged US$53532.35 million from 2002 until2018, reaching an all time high of US$ 91761m in the first quarter of 2018and a record low of US$33172million in the third quarter of 2004.
According to International Monetary Fund (IMF), Pakistan’s netinternational reserves stand at negative $724 million.
The Pakistan Muslim League-Nawaz government, which completed its five-yearterm last month, obtained total foreign loans of Rs1.2 trillion, exceedingits original target of Rs810 billion for the outgoing fiscal year by around48 per cent to finance its expenditure.
The foreign loans obtained by the government in the current fiscal year arearound 24 per cent higher than Rs971.60bn obtained in 2016-17.
For the next fiscal year, the government plans to raise Rs1.08tr loans.