ISLAMABAD (our reporter):- Pakistan Govt could only borrowed $7.4 billion from different external sources as against the annual target of $22.80 billion due to the suspension of the International Monetary Fund (IMF) during the first eight months of the current fiscal year.
The Economic Affairs Division has issued monthly bulletin of external financing for the the eight months of the current fiscal year.
The govt has borrowed $7.4 billion during the eight months of the current fiscal year. It has borrowed $1.271 billion in external loans in February 2023. The country received $538.42 million under the head of Naya Pakistan Certificate during the first eight months of the current fiscal year including $72.07 million in February 2023.
The country received $3.852 billion from multilateral, $949.66 million from bilateral, and $1.166 billion from IMF during July-February FY23. The non-project aid was $6.084 billion including $5.124 billion for budgetary support and project aid was $1.322 billion.
Asian Development Bank (ADB) disbursed $1.929 billion during the period under review compared to the budgeted $3.202 billion for the entire fiscal year. ADB disbursed $12.85 million in February 2023.
China disbursed $54.93 million during the first quarter against the government budgeted estimates of $49.02 million for the current fiscal year, however, no money was received in October, November, December, January, and February. Saudi Arabia disbursed $782.28 million against the budgeted $800 million.
The US disbursed $20.83 million during the period under review against the budgeted $32.49 million for the current fiscal year. Korea disbursed $19.79 million and France $27.36 million during the first eight months of the current fiscal year.
The IDA disbursed $1.019 billion against the budgeted $1.4 billion during the first eight months including $338.63 in February, IBRD $135.02 million against the budgeted $1.246 billion and Islamic Development Bank disbursed $16.81 million against the budgeted $3.38 million for the current financial year. IsDB (Short-term) disbursed $161 million in the current fiscal year. AIIB has disbursed $539.02 million in the current fiscal year so far.
The country borrowed $900 million from foreign commercial banks during the first eight months of FY23 including $700 million in February, shows the Economic Affairs Division data.