The government has decided to increase federal investments on current account to Rs 20.649 billion in 2011-12 from Rs 18.121 billion allocated in 2010-11. Budget documents reveal that Pakistan''s contribution towards ECO trade will be Rs 2.192 billion, the GoP contribution to Saarc (SDF) will be Rs 1.4 billion.
The GoP''s equity in capital of KS&EW will be zero in 2011-12 against Rs 578 million allocated in 2010-11. However, the GoP''s equity in PIAC is being increased to Rs 3.831 billion from Rs 3.677 billion allocated in 2010-11 but revised to Rs 2.867 billion. Payment of mark-up on loans by Pasdec will be Rs 59 million.
Other investments on current account are as follows: Fifth Gen. Capital Increase of ADB - Rs 544 million, Islamic Development Bank Rs 1.127 billion, the GoP''s investment in Peoples Steel Mills Rs 160 million, equity from GoP in Pak China Investment Corporation Rs 1.5 billion, the GoP equity in Pak Dairy Development Company Limited Rs 45 million, the GoP equity investment in NIP, Karachi Rs 379 million, investment in HBFCL equity Rs 3 billion, SME Bank Limited Rs 2 billion, Mortgage Refinance Company Rs 1.2 billion, lump provision of Rs 3.21 billion and others Rs 2 million.