ANL 13.16 Increased By ▲ 0.01 (0.08%)
ASC 15.20 Increased By ▲ 0.10 (0.66%)
ASL 15.52 Decreased By ▼ -0.13 (-0.83%)
AVN 107.50 Increased By ▲ 0.02 (0.02%)
BOP 8.37 Decreased By ▼ -0.03 (-0.36%)
CNERGY 6.08 Decreased By ▼ -0.13 (-2.09%)
FFL 9.04 Increased By ▲ 0.03 (0.33%)
FNEL 8.55 Decreased By ▼ -0.05 (-0.58%)
GGGL 13.36 Increased By ▲ 0.46 (3.57%)
GGL 20.31 Increased By ▲ 0.53 (2.68%)
GTECH 9.36 Increased By ▲ 0.29 (3.2%)
HUMNL 7.14 Increased By ▲ 0.34 (5%)
KEL 3.12 Increased By ▲ 0.01 (0.32%)
KOSM 4.48 Increased By ▲ 0.33 (7.95%)
MLCF 34.54 Increased By ▲ 0.39 (1.14%)
PACE 4.09 Increased By ▲ 0.11 (2.76%)
PIBTL 7.16 Increased By ▲ 0.01 (0.14%)
PRL 14.10 Decreased By ▼ -0.22 (-1.54%)
PTC 8.60 Decreased By ▼ -0.13 (-1.49%)
SILK 1.32 Decreased By ▼ -0.02 (-1.49%)
SNGP 33.80 Decreased By ▼ -0.30 (-0.88%)
TELE 17.45 Decreased By ▼ -0.05 (-0.29%)
TPL 12.22 Decreased By ▼ -0.03 (-0.24%)
TPLP 27.34 Decreased By ▼ -0.56 (-2.01%)
TREET 38.50 Decreased By ▼ -0.50 (-1.28%)
TRG 84.98 Increased By ▲ 0.98 (1.17%)
UNITY 29.15 Increased By ▲ 1.41 (5.08%)
WAVES 15.60 Decreased By ▼ -0.07 (-0.45%)
WTL 2.22 Increased By ▲ 0.06 (2.78%)
YOUW 7.76 Increased By ▲ 0.42 (5.72%)
BR100 4,623 Increased By 5.5 (0.12%)
BR30 17,917 Increased By 191.5 (1.08%)
KSE100 45,078 Decreased By -5.1 (-0.01%)
KSE30 17,793 Decreased By -35.1 (-0.2%)

coronavirus
Coronavirus
VERY HIGH
Source: covid.gov.pk
Pakistan Deaths
29,219
2724hr
Pakistan Cases
1,410,033
7,96324hr
Sindh
538,196
Punjab
474,208
Balochistan
34,277
Islamabad
125,203
KPK
190,578

ISLAMABAD: Pakistan incurred foreign debt of $7.413 billion from multiple financing sources during July-March of 2020-21 including $3.120 billion from foreign commercial banks (42 percent) with the total budgeted external loans of $12.233 billion for the entire fiscal year 2020-21.

The Economic Affairs Division (EAD) data released on Friday shows that in March 2021 the country received $204.82 million external inflows from multiple financing sources including $10 million from foreign commercial banks.

In the corresponding period (July-March) of fiscal year 2019-20 the external inflows were $6.730 billion which were around (52 percent) of the annual budgeted amount of $12.958 billion.

The total receipt of $7.413 billion constitutes $1.349 billion or 18 percent programme/budgetary support assistance, $3.120 billion (42 percent) foreign commercial borrowing, $1.350 billion (20 percent) project assistance and $439 million (6 percent) commodity financing while $1 billion (14 percent) was received as safe deposits from China.

According to the data, the government procured $3.110 billion loans from foreign commercial banks during July-March 2020-21, including $34.62 million from Ajman Bank, $400 million from the Standard Chartered Bank (London), $815.11 million from Dubai Bank, $200 million were received from the consortium-led by Suisse AG, UBL, and ABL including $10 million in March, $370 million from Emirates NBD, and $1.3 billion from the ICBC, China.

The bilateral and multilateral development partners disbursed $3.294 billion during the period under review (July-March) against the budgetary allocation of $5.811 billion for fiscal year 2020-21. Amongst the multilateral development partners, Asian Development Bank provided $1.247 billion followed by World Bank’s $938 million against the budgetary allocation of $2.257 billion. While from bilateral sources, France, USA and China provided $34.8 million, $86.2 million and $147.5 million respectively.

According to the EAD data during the first seven months of current financial year total servicing of external public debt was $4.865 billion against the annual repayment estimates of $10.363 billion for the entire fiscal year with $4.004 billion principal repaid (82 percent of total external public debt servicing) and $862 million (18 percent) interest on the outstanding stock of external public debt.

During July-February 2020-21, the government settled $2.429 billion foreign commercial loans. Further the government has repaid $1.998 billion to multilateral and $179 million to bilateral development partners.

For the period July- January, 2020-21, net transfers to the government were $3.045 billion. Positive net transfers came mainly due to higher inflows from multilateral development partners and due to $1 billion time safe deposit from China. According to EAD, the stock of external loans which was obtained on market based instruments has increased by $876 million and the share of concessional external loans with longer maturity increased by $1.169 billion.

Copyright Business Recorder, 2021

Comments

Comments are closed.