ISLAMABAD: The Pakistan Tehreek Insaf (PTI) government has taken Rs2.075billion loan/grant during the first quarter of the current fiscal year(FY20).
As per the documents available with this scribe, the government hasborrowed $1.9 billion from friendly countries as well as from differentlending organizations.
The government borrowed $26 million from the International Bank forReconstruction and Development (IBRD), $97 million from InternationalDevelopment Association (IDA), $303.68 from IDA (S-term), $0.04 millionfrom Islamic Development Bank (IDB) and $23 million from International Fundfor Agricultural Development (IFAD). Similarly, the government also hasreceived grants from multilateral organizations such as IDB, United NationsHigh Commissioner for Refugees (UNHCR) and Multi-Donor Trust Fund (MDTF).
The above stated organizations have given $22 million to Pakistan invarious projects. Overall, Pakistan has received $1.01 billion frommultilateral organizations.
Documents further revealed that the government took a loan of up to $1.4billion from bilateral organizations during the first quarter of FY20.
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Saudi Arabia gave Pakistan $141 million short-term loan during the firstquarter.
The loan taken from commercial banks stood at $514 million against the $2billion yearly budget estimates of the finance ministry.
