Mar 1-Apr 30 period: Rs3trn domestic, $433m foreign loans raised, NA told

ISLAMABAD: The National Assembly was informed on Monday that total amount of domestic loans raised during March 01, 2024, to April 30, 2024, were Rs3,004 billion while total amount of external loans raised during the same period were $433 million excluding the borrowing from International Monetary Fund (IMF).

In a written reply about the loans, Finance Minister Muhammad Aurangzeb said the total bilateral debt stock stands at $26.121 billion.

The loans from the Paris Club countries include Austria $11 million, Belgium $6 million, Canada $23 million, Finland $2 million, France $1.205 billion, Germany $1.043 billion, Italy $157 million, Japan $3.356 billion, Korea $319 million, Norway $5 million, Russia $65 million, Spain $46 million, Sweden $27 million, Switzerland $47 million, United Kingdom $2 million and United States $840 million.

The non-Paris club countries from where the country has taken loans include China $12.4 billion, Kuwait $111 million, Libya $1 million, Saudi Arabia $6.371 billion and the United Arab Emirates $18 million.

During the question hour, the Federal Minister for Commerce said the Trading Corporation of Pakistan (TCP) imported wheat based on the instructions of the Economic Coordination Committee (ECC) and the federal cabinet.

He clarified that the TCP did not import any quantity of wheat during the year 2023-24, as the private sector had been allowed to import wheat.

He explained that TCP acts as the sole medium for purchasing wheat for food security purposes, while its storage and distribution are managed by the Ministry of National Food Security and Research.

To a question about import of sugar, he said there is no government plan to import sugar.

Copyright Business Recorder, 2024