Pakistan Has Already Received 85% of Its Budgeted Grants & Loans in Seven Months

Pakistan received external assistance of $6.88 billion in the first seven months of the current fiscal year (July-January) 2017-18, revealed Economic Affairs Division (EAD).

The government has budgeted foreign assistance of $8.094 billion for 2017-18 including $7.692 billion loans and $401.78 million in grants.

China disbursed $608.71 million in the current fiscal year (July-January) 2017-18 against the budgeted $1.595 billion for the entire year. China released $46.87 million in January for Chashma Nuclear Power Plant and $22.18 million for the Neelam Jehlam hydro power project.

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Pakistan Received $5.9 Billion in Loans & Grants During the Past 6 Months

Asian Development Bank (ADB) disbursed $498.03 million in the current fiscal year 2017-18 so far including $42.33 million in January against the budgeted estimates of $1.221 billion.

Details on other loans and grants are listed below:

• International Bank for Reconstruction and Development (IBRD) released $97.41 million including $10.75 million in January against the estimated $60.65 million,
• IDB(S-Term) issued $790 million against the estimated $1.550 billion,
• Asian Infrastructure Investment Bank (AIIB) sent $15.78 million,
• International Development Association (IDA) disbursed $192.08 million against $975.27 million,
• Islamic Development Bank (IDB) transferred $55.38 million,
• Japan sent out $71.52 million,
• Saudi Arabia released $22.50 million,
• UK released $134.70 million of grant,
• USA sent $35.63 million in the current fiscal year 2017-18 against the budgeted estimates of $117.56 million.

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Struggling Economy: Current Account Deficit Crosses the $9 Billion Mark

The government has procured $532.66 million in commercial loans from foreign banks in January, bringing the total to $1.78 billion in the current fiscal year (July-January) of 2017-18.

The government has received no assistance from Italy, Korea, Norway, and UNDP during the current fiscal year (July-January) 2017-18.