Pakistan to get Rs 300 billion loans, grants during fiscal year 2009

Pakistan will get some Rs 300 billion (around four billion dollars) foreign assistance in the shape of loans and grants for the next fiscal year from international financial institutions and different countries to run its development and non-development programmes smoothly.
The Finance Division has estimated overall Rs 300.169 billion loans and grants from external sources during fiscal year 2008-09, which is some 16.1 percent or Rs 41.636 billion higher than the budget estimates of current fiscal year 2007-08.
For the current fiscal year the ministry had estimated some Rs 258.533 billion worth revenue from external resources up by 3.10 percent compared to FY07, however in the revised budget estimates of the finance ministry, it surged to Rs 275.406 billion.
The external loan estimates including project loans, programme loans, earthquake loans rose by 24 percent to Rs 283.776 billion for next fiscal year as compared to Rs 229.685 billion estimates in FY08. While revenue estimates through external grants depict a decline of 43 percent to Rs 16.393 billion in 2009 as against Rs 28.848 billion in fiscal year 2008.
Foreign project loans at Rs 70.055 billion for federal government and provinces, while programme loans have been estimated at Rs 145.625 billion for FY09. Some Rs 46.417 billion project loans have been estimated for federal government projects comprising Rs 23.019 billion for the ministries and divisions and Rs 23.398 billion for provinces.
Finance department has estimated Rs 23.638 billion loans for provinces and Rs 5.596 billion for earthquake loans. Loans through Eurobonds have been estimated at Rs 31.075 billion in the current fiscal year, however due to the internal and external shocks bonds could not be issued and therefore the government has again set a revenue target of Rs 31.250 billion through bonds in FY09.
In addition, external grants in FY09 stand at Rs 163.93 billion comprising project grants of Rs 6.739 billion, federal grants Rs 4.874 billion, provinces Rs 1.865 billion, budget support grants Rs 5.419 billion and earthquake grants Rs 4.235 billion.