Pakistan borrowed $436.39 million from multiple financing sources during the first month (July) of the current fiscal year 2024-25 (FY25) compared to $2.890 billion borrowed during the same period of 2023-24 (FY24), revealed the Economic Affairs Division (EAD) data.
The government had budgeted $19.393 billion from multiple financing sources for FY25 including $19.216 billion loans and $176.29 million grants.
The data revealed that government has budgeted estimates of time deposits of $9 billion including $5 billion KSA time deposit and $4 billion SAFE China deposit for the current fiscal year, however, no money was received in July under this head. There is also no mention of assistance from UAE.
The data further showed that the government had budgeted estimates of $3.779 billion from the foreign commercial banks for FY25; however, no money was received under this head during the first month of FY25. The government has also budgeted estimates of $1 billion from the issuance of bonds; however, as the country did not issue the bonds, hence no amount was received during the first month of FY25.
The country received $127.70 million under the head of the “Naya Pakistan Certificate” during the first month of FY25.
The country received $201.01 million from multilaterals and $107.68 million from bilateral during July 2024. The non-project aid was $128.93 million including $1.23 million for budgetary support and project aid was $307.46 million.
The Asian Development Bank (ADB) disbursed $54.05 million during the period under review compared to the budgeted $1.651 billion for FY25.
The IDA disbursed $111.88 million in July against the budgeted $1.525 billion for FY25 and IBRD $20.54 million against the budgeted $550.22 million. The IsDB (Short-term) did not disburse any amount in July, however, the government has budgeted estimates of $500 million for the fiscal year 2024-25 and AIIB disbursed $8.54 million, while IFAD disbursed $4.54 million against the budgeted $40.45 million for the FY25.
China disbursed $96.76 million in July against the government budgeted estimates of $134.18 million for the FY25.Saudi Arabia disbursed $2.69 million in the first month of FY25 against the budgeted estimates of $146.54 million for the entire fiscal year. The US disbursed $4.42 million in the first month of FY25 against the budgeted $20.87 million for the fiscal year 2024-25.