Pakistan Government took foreign loan of $ 7.43 billion in 11 months, Finance Ministry

Pakistan Government took foreign loan of $ 7.43 billion in 11 months

Pakistan Government took foreign loan of $ 7.43 billion in 11 months

Islamabad … News Time

The government’s debt could not even be less than 4 years depending on the debt; foreign debt has increased by 18 percent over a year, during the current 11 months, foreign government has disbursed $ 7.43 billion from foreign institutions. During a year, the external debt was paid $ 1.16 billion; the government took a loan of $ 2 billion from Chinese banks, Ministry of Finance officials refused to open the details of the loan from Chinese banks. Explaining the details of foreign debt related to the Senate Standing Committee for Finance Treasury officials said that the government had disbursed $ 7.43 billion from foreign institutions from July to May 2017, Only Chinese banks were borrowed $ 2 billion during a year, $ 1.16 billion was paid for interest on external debt during 1 year, Likewise, the local bank loans got Rs 12,016 billion. From previous year, the loans taken from local banks this year increased by Rs 182 billion. Authorities said that during the past 1 year, the government returned $ 3.62 billion to various institutions, External debt stood at $ 3.81 billion during a year. Chairman committee Senator Salim Mandviwala said that the Finance Ministry should submit 4-year foreign debt details; the private sector is reducing the performance of debt. Senator Mohsin Aziz quoted that in 2016 the private sector was given a 16 percent loan in 2017, private sector was given 15.4 percent loan. Center Salim Mandviwala said no foreign aid was told. During this period, the Secretary Finance said that foreign debt rose 18% in one year. Senator Ilyas Blour said that the government is taking record number of credentials, Should the Government be set to borrow borrowers from banks? State Bank officials told the committee that there was no limit on the government. Senator Mohsin Aziz asked State Bank officials how much interest was paid on Chinese loans. Finance Ministry officials said that details of loan from Chinese banks can provide them in camera briefing. Because if information is turned on, then you can also take this limit. On this, the Chairman of the Committee said that the matter will be seen in the next meeting on which the Senate’s Treasury Committee pushed the agenda to the next meeting. The central economy is affecting the quota of tax revenues, Center Mohsin Aziz said. Due to this, 150 textile mills have been closed, Optma members are protesting. FBR officials said that the matter of apex tax refunds is resolved by reconciliation, statistics and FBR data are different, and the apprentices have asked where to get the tax refunds of 200 billion rupees. He will try to issue apex tax refunds till August 13, he said. For this purpose, demanding an apprentice for the next week. Committee chairman Salim Mandviwala said that if the Chairman does not come to the next meeting of the FBR Committee, then he will present a motion of motion in Senate against him. And the Chairman can write a letter to Prime Minister against the FBR.

Advertisement

No comments.

Leave a Reply