ISLAMABAD: The country borrowed $714.74 million from multiple financing sources during the first two months (July-August) of the current fiscal year 2024-25 compared to $3.206 billion borrowed during the same period of 2023-24, revealed the Economic Affairs Division (EAD) data.
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-August under this head. There is also no mention of assistance from the UAE.
The government had budgeted $19.393 billion from multiple financing sources for the fiscal year 2024-25 including $19.216 billion loans and $176.29 million grants. However, this does not include any amount from the International Monetary Fund (IMF).
July-May of FY 2023-24: $7.547bn borrowed from multiple financing sources
The data further showed that the government had budgeted estimates of $3.779 billion from the foreign commercial banks for the fiscal year 2024-25; however, no money was received under this head during the first two months. 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 two months of 2024-25.
The country received $270.53 million in August 2024 from different sources.
The country received $259.04 million under the head of the “Naya Pakistan Certificate” during the first two months of current fiscal year 2024-25 including $131.35 million in August.
The country received $292.99 million from multilaterals and $162.70 million from bilateral during July-August 2024. The non-project aid was $273.12 million including $14.07 million for budgetary support and project aid was $441.62 million during the first two months of current fiscal year.
The Asian Development Bank (ADB) disbursed $96.20 million during the period under review compared to the budgeted $1.651 billion for the fiscal year 2024-25.
The IDA disbursed $147.86 million in July-August against the budgeted $1.525 billion for the fiscal year 2024-25 and IBRD $28.88 million against the budgeted $550.22 million. The IsDB (Short-term) did not disburse any amount in July-August, however, the government has budgeted estimates of $500 million for the fiscal year 2024-25 and AIIB disbursed $8.73 million, while IFAD disbursed $9.59 million against the budgeted $40.45 million for the fiscal year 2024-25.
China disbursed $96.76 million in July; however, no money was received in August from China. The government has budgeted $134.18 million from China for the fiscal year 2024-25.
Saudi Arabia disbursed $2.69 million in the first month of fiscal year 2024-25 against the budgeted estimates of $146.54 million for the entire fiscal year; however, no amount was received in August.
The USA disbursed $30.94 million in the first two months against the budgeted $20.87 million for the fiscal year 2024-25.
Copyright Business Recorder, 2024
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