ISLAMABAD: The current government has borrowed more than Rs 2.013 trillion from domestic banking and non-banking institutions since June 2013.
“The government has taken Rs 998.1 billion from the banking sector, while Rs 1,015.5 billion from non-banking financial institutions as loan,” a well-placed source at the Finance Ministry informed this scribe.
The government also gained a total external debt of $5.145 billion on the multilateral and bilateral basis as well as on the basis of commercial loans and sovereign bonds.
These multilateral financial institutions include Asian Development Bank (ADB), Industrial Development Bank (IDB), International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Fund for Agricultural Development (IFAD), OPEC Fund for International Development (OFID) and International Monetary Fund (IMF).
As per the break-up, the government obtained loans to the tune of $20.2 million from the ADB, $823.6 million from the IDB and $101.2 million from the IBRD.
Similarly, a loan of $1,361.3 million was obtained from the IDA, $12.2 million from the IFAD and $12.8 million from the OFID.
The IMF provided a loan of $971.8 million to the government. Moreover, the government also got $12.2 million worth of loans from other multilateral institutions, which have not been named. These loans were obtained on a multilateral basis.
The bilateral countries include China, France, Germany, Italy, Japan, Korea, Kuwait and Saudi Arabia.
Similarly, on the bilateral basis, the government obtained $893.5 million from China, $62.7 million from France as well as $7.3 million from Germany. The government also gained a loan of $12.1 million from Italy, $162.5 million from Japan as well as $17.1 million from Korea.
Kuwait provided an amount of $13.8 million while Saudi Arabia lent an amount of $126.7 million to Pakistan. The government also obtained another amount of $ 84.6 million from some other countries which have not been mentioned. These loans were obtained on a bilateral basis.
The commercial loans and sovereign bonds include; commercial loans Pakistan Sovereign Bonds and others.
The government gathered commercial loans worth $200 million and $3 billion on the basis of sovereign bonds as well as $7.4 million from other means in the same category.
