June 2013 to January 2015: government resorts to heavy borrowing from domestic and external sources

The total amount of loans taken by the government from domestic and external sources since June 2013 to January 2015 stand at Rs 2,013.6 billion and $5,145.6 million, respectively. Minister for Finance, Revenue and Economic Affairs informed the National Assembly Thursday in a written reply to a question that the government has borrowed Rs998.1 billion from banks while Rs1,015.5 billion was non-bank borrowing.
The government borrowed $5,145.6 million from multilateral, bilateral sources besides taking commercial loans and sovereign bonds.
The Lower House was also informed that the government has allocated an amount of Rs 1 billion for establishment of Mortgage Refinance Company in the budget of current fiscal year 2014-15. The establishment of the company would help in providing long-term funding to primary mortgage market and would serve as a secured source of long-term funding at attractive rates while ensuring sound lending habits amongst Primary Mortgage Lenders (PMLs).
This would in turn help improve the affordability of mortgages and extend the number of potential borrowers and result in the expansion of the primary mortgage market and thus home ownership in the country, he said.
Federal Minister for Planning, Development and Reform, Ahsan Iqbal informed the house that there is no provision in federal PSDP 2014-15 for allocation of development funds to parliamentarians, including minority MNAs. However, the government is financing Pak MDGs Community Development Programme. Under this programme, schemes are identified by the community duly received through DC/DCO of the area. The programme is being handled by the Cabinet Division.
Parliamentary Secretary for Finance, Revenue and Economic Affairs informed the National Assembly for the financial year 2014-15 Rs2.00 billion have been allocated in the budget. An amount of Rs800.00 million was released to the Pakistan Bait-ul-Maal up to first half of current financial year 2014-15. As regards the requirement of funds of Pakistan Baitul-Maal they have demanded additional budgetary provision for the financial year 2014-15. However, the budget of Pakistan Bait-ul-Maal could not be increased due to financial constraints.
Presently, due to financial constraints, there is no proposal under consideration of the government to allocate more funds for Pakistan Bait-ul-Maal. However, government is spending about Rs97.00 billion for the poor segment of population through cash transfers under the BISP, he said.
Parliamentary Secretary for Interior and Narcotics Control Maryam Aurangzeb informed the members that the present strength of ICT Police is 11,015, which is insufficient for 1.481 million residents of Capital City. The population of Islamabad is growing at an annual rate of 2.72 percent and the police have been tasked multiple assignments ranging from maintaining law and order to security of VIPs, diplomats, sensitive installations, she said.
The parliamentary secretary also informed the house that legislation against the quacks and unregistered doctors will be laid before the house soon.
National Assembly Speaker Sardar Ayaz Sadiq directed the parliamentary secretary to prepare a resolution against quacks and get it approved from the house before it is prorogued.
To a question about attack on JUI-F leader Maulana Fazl-ur-Rehman, she said that there were no prior reports of the agencies regarding suicide attack on Maulana Fazl-ur-Rehman.
In view of the security concerns to Maulana Fazl-ur-Rehman, elaborate security measures were taken by the Balochistan government for the participants at the venue. Maulana Fazl-ur-Rehman was provided a bullet-proof vehicle by CCPO Quetta and 1 ATF along with 1 District Police Escort. For the security of venue, Nakas were established and police vehicles were deployed for patrolling purposes, walkthrough gates were also installed at the entry/exit gates and police established inner and outer cordons. Besides this, the venue was searched and screened by bomb disposal team, she added.
The speaker directed the parliamentary secretary to present all the relevant details of attacks on different political leaders in the National Assembly and also ensure security to all the members as per rules.