Rs 413.92 billion external financing estimated unrealistically

The federal budget for 2011-12 has unrealistically estimated external financing to the tune of Rs 413.92 billion--7.1 percent higher than in the budget estimates of 2010-11.
The government seems upbeat that it would get Rs 34.1 billion under Kerry Lugar Bill in 2011-12, that is Rs 23.1 billion more than the projection made in the revised federal budget for 2010-11. However, it is not clear where the government got this figure, as the 'bill' envisages 1.5 billion dollars (around 128 billion rupees).
The federal budget for 2011-12 has estimated total external loans of Rs 287.2 billion to reach the country in the next fiscal year--Rs 32.5 billion more than Rs 254.7 billion of revised budget estimates for 2010-11.
Project loans during 2011-12 have been estimated at Rs 67.5 billion (Rs 26.5 billion less than the revised amount of project loans in 2010-11) with the following share distribution: the federal government will receive Rs 34.5 billion, that is Rs 42.2 billion less than the revised budget 2010-11, while the share of provinces, estimated for 2011-12, is Rs 33 billion, which is Rs 15.7 billion more than the revised 2010-11 budget estimates of Rs 17.3 billion.
The government has estimated programme loans (Budgetary support) of Rs 117 billion in 2011-12, that is Rs 78 billion more than current year's revised target of Rs 39 billion. Rs 44 billion have been estimated from Euro Bonds - Rs 2 billion more than current year's revised target. Rs 13.8 billion has been estimated under Tokyo Pledges, while Rs 44 billion has been projected from aid from bilateral donors.
The country did not receive a single penny from the Islamic Development Bank (IDB) in 2010-11, but the government has projected Rs 44 billion from IDB in 2011-12.
The 3.2 billion dollars under the stalled Stand By Arrangement of the IMF have not been budgeted in for 2011-12. The country is expecting a total of Rs 126.6 billion as external grants in 2011-12, that is Rs 91.5 billion more than the revised 2010-11 budget estimates.
Project grants have been projected at Rs 9.2 billion in 2011-12 while these were Rs 11.7 billion in revised 2010-11 estimates with the following share distribution: Rs 4 billion for Federal, Rs 25 million for autonomous bodies and Rs 5.2 billion for provinces.
The government has estimated Rs 9.1 billion as budget support grants, Rs 3.6 billion as external grant under Tokyo Pledges, Rs 70 billion from privatisation proceeds and Rs 34.1 billion under Kerry Lugar bill.