ISLAMABAD: The country borrowed $4.585 billion from multiple financing sources during the first seven months (July-January) of the current fiscal year 2024-25 compared to $6.31 billion borrowed during the same period of 2023-24, revealed the Economic Affairs Division (EAD)’s data released here on Tuesday.
The $4.585 billion does not include the first tranche of $1.03 billion, received from the International Monetary Fund (IMF). If the IMF inflows are added, total inflows would reach $5.585 billion during the first seven months of the current fiscal year.
The data revealed that government has budgeted time deposits of $9 billion including $5 billion Kingdom of Saudi Arabia(KSA) time deposit and $4 billion SAFE China deposit for the current fiscal year, however, no money was received in the first seven months (July-January) under this head. There is also no mention of assistance from UAE.
$5.968bn borrowed from multiple sources during 1HFY
In the first week of December 2024, Saudi Arabia extended a $3 billion deposit placed with Pakistan for another year, however, EAD data covering the first seven months, does not reflect it.
The government had revised budgeted estimates from $19.393 billion to $14.393 billion from multiple financing sources for the fiscal year 2024-25 including revised $14.216 billion loans and $176.29 million grants. However, this does not include any amount from IMF.
The data further showed that the government had budgeted $3.779 billion from the foreign commercial banks for the fiscal year 2024-25. The country received $500 million under this head up to January, but there is no mention from which foreign commercial bank the country received the loans. The country did not borrow from commercial banks in November, as per EAD data.
The government has also budgeted $1 billion from the issuance of bonds; However, as the country did not issue the bonds, no amount was received during the first five months of 2024-25.
The country received $829.84 million in January from different sources as compared with $331.59 million during same period of the previous fiscal year.
The country received $1.126 billion under the head of the “Naya Pakistan Certificate” during the first seven months of current fiscal year 2024-25 including $199.23 million in January.
The country during July-January 2024-25 received $2.322 billion from multilaterals,of which, $458 million in January and $329.10 million from bilateral of which $12.68 million in January. The non-project aid was $2.54 billion including $1.312 billion for budgetary support and project aid was $2.045 billion during the first seven months of current fiscal year.
The Asian Development Bank (ADB) during the period under review, disbursed $1.048 billion including $139.73 million in January compared to the budgeted $1.651 billion for the fiscal year 2024-25.
The IDA disbursed $573.85 million during July-January 2024-25 against the budgeted $1.525 billion for the fiscal year 2024-25 and IBRD $201.50 million against the budgeted $550.22 million. The IsDB (short-term) disbursed $265.7 million during the first seven months of the current fiscal year against $550 million for the fiscal year 2024-25 and AIIB disbursed $60.22 million, while IFAD disbursed $26.12 million against the budgeted $40.45 million for the fiscal year 2024-25.
China disbursed $99.17 million during July-January against the budgeted amount of $134.18 million from China for the fiscal year 2024-25.
Saudi Arabia disbursed $12.37 million in the first seven months of fiscal year 2024-25 against the budgeted $76.02 million for the entire fiscal year. The USA disbursed $40.05 million in the first five months of the current fiscal year against the budgeted $20.88 million for the fiscal year 2024-25. Moreover, France provided $102.57 million against budgeted amount of $66.30 million.
Copyright Business Recorder, 2025
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