AIRLINK 78.39 Increased By ▲ 5.39 (7.38%)
BOP 5.34 Decreased By ▼ -0.01 (-0.19%)
CNERGY 4.33 Increased By ▲ 0.02 (0.46%)
DFML 30.87 Increased By ▲ 2.32 (8.13%)
DGKC 78.51 Increased By ▲ 4.22 (5.68%)
FCCL 20.58 Increased By ▲ 0.23 (1.13%)
FFBL 32.30 Increased By ▲ 1.40 (4.53%)
FFL 10.22 Increased By ▲ 0.16 (1.59%)
GGL 10.29 Decreased By ▼ -0.10 (-0.96%)
HBL 118.50 Increased By ▲ 2.53 (2.18%)
HUBC 135.10 Increased By ▲ 2.90 (2.19%)
HUMNL 6.87 Increased By ▲ 0.19 (2.84%)
KEL 4.17 Increased By ▲ 0.14 (3.47%)
KOSM 4.73 Increased By ▲ 0.13 (2.83%)
MLCF 38.67 Increased By ▲ 0.13 (0.34%)
OGDC 134.85 Increased By ▲ 1.00 (0.75%)
PAEL 23.40 Decreased By ▼ -0.43 (-1.8%)
PIAA 26.64 Decreased By ▼ -0.49 (-1.81%)
PIBTL 7.02 Increased By ▲ 0.26 (3.85%)
PPL 113.45 Increased By ▲ 0.65 (0.58%)
PRL 27.73 Decreased By ▼ -0.43 (-1.53%)
PTC 14.60 Decreased By ▼ -0.29 (-1.95%)
SEARL 56.50 Increased By ▲ 0.08 (0.14%)
SNGP 66.30 Increased By ▲ 0.50 (0.76%)
SSGC 10.94 Decreased By ▼ -0.07 (-0.64%)
TELE 9.15 Increased By ▲ 0.13 (1.44%)
TPLP 11.67 Decreased By ▼ -0.23 (-1.93%)
TRG 71.43 Increased By ▲ 2.33 (3.37%)
UNITY 24.51 Increased By ▲ 0.80 (3.37%)
WTL 1.33 No Change ▼ 0.00 (0%)
BR100 7,493 Increased By 58.6 (0.79%)
BR30 24,558 Increased By 338.4 (1.4%)
KSE100 72,052 Increased By 692.5 (0.97%)
KSE30 23,808 Increased By 241 (1.02%)
Print Print 2022-05-24

Over $13bn debt incurred in 10 months: EAD

  • External inflows during the corresponding period (July-April) of fiscal year 2020-21 were $10.195 billion
Published May 24, 2022

ISLAMABAD: Pakistan incurred a foreign debt of $13.033 billion from multiple financing sources in the first 10 months (July-April 2021-22) including $ 2.623 billion from foreign commercial banks (20 percent) against the total budgeted external loans of $ 14.088 billion for the entire fiscal year.

The Economic Affairs Division (EAD) on Monday released data which shows that the country received $ 262.14 million from multiple financing sources in April 2022. However, no amount was borrowed from foreign commercial banks during April 2022. The government has budgeted estimates of foreign assistance of $ 14.088 billion for the current financial year, including $ 13.871 billion loans and $ 217.44 million grants from multilateral and bilateral sources.

The external inflows during the corresponding period (July-April) of the fiscal year 2020-21 were $10.195 billion including $ 3.246 billion from foreign commercial banks against the budgeted amount of $ 12.233 billion.

1HFY22: $8.48bn commitment agreements inked

The total receipt of $ 13.033 billion constitutes $4.050 billion from multilateral, $485.97 million from bilateral, $ 2.623 billion from foreign commercial banks, and $ 2.041 billion from issuance of bonds and $ 3 billion time deposit from Saudi Arabia.

The non-project aid was $ 10.263 billion including $9.024 billion for budgetary support and project aid was $ 1.937 billion.

Guaranteed loans were $ 832.53 million during the first 10 months of 2021-22.

The government borrowed $ 2.623 billion from foreign commercial banks during the first ten months of the current fiscal year including $ 1.140 billion from Dubai Bank, $ 487.26 million from SCB (London), $ 61 million from Ajman Bank PJSC, $ 343.50 million from Suisse AG, UBL and ABL and $ 591.25 million from Emirates NBD.

Among multilateral development partners, mainly the Asian Development Bank provided $ 1.454 billion, the World Bank disbursed $ 1.189 billion, the AIIB $ 38.87 million, IDB $ 68.70 million and IDB (S-Term) $ 1.208 billion.

China disbursed $ 153.30 million in the first 10 months (July-April) of the current fiscal year, USA $ 64.32 million, Korea $ 4.81 million, UK $ 16.01 million, and Germany $ 13.25 million and Saudi Arabia $201 million including $100 million I April for imports of oil products.

Copyright Business Recorder, 2022

Comments

Comments are closed.