ISLAMABAD: The government has estimated foreign assistance of Rs 2.747 trillion for the fiscal year 2021-2022 against Rs 2.222 trillion budgeted for the current fiscal year which was later revised upward to Rs 2.286 trillion.
The external resources projected for FY 2021-22 are greater by around 23 percent and 20 percent respectively when compared to the budgeted and revised estimates of 2020-21.
The government has budgeted estimates of Rs 438.195 billion under the head of programme loans and Rs 1.995 trillion under the head of other loans.
The programme loans estimated in the budget for FY 2021-22 are classified as follows: Rs 134.088 billion from Asian Development Bank (ADB), Rs 48 billion from AIIB, Rs 63.63 billion from International Development Association (IDA), Rs 182.55 billion from International Bank for Reconstruction and Development (IBRD) and Rs 8 billion from OPEC Fund for International Development (OFID).
The government has budgeted Rs 496 billion from the International Monetary Fund (IMF) for the next fiscal year for budgetary support against Rs 211.06 billion budgeted for the current fiscal year which was later revised downward to Rs 77.4 billion.
There is budgeted amount against Saudi Arabia (oil facility) for next fiscal year. The government had budgeted Rs 165 billion from Saudi Arabia (oil facility) for current fiscal year, which was later revised to zero.
The government has budgeted Rs 779.200 billion from foreign commercial banks for 2021-21 against Rs 647.213 billion for 2020-21 which was later revised upward to Rs 762.335 billion.
The government has budgeted Rs 560 billion from Euro bond/ international Sukuk for 2021-22 against Rs 247.500 billion budgeted for the current fiscal year which was revised to Rs402.500 billion.
The government has budgeted Rs 160 billion from Islamic Development Bank for the next fiscal year against Rs 165 billion for the current fiscal year which is revised to Rs 128.800 billion.
The government has budgeted nothing from China safe Deposits (bilateral) for the next financial year and had budgeted nothing from China safe Deposits (bilateral) for the current fiscal year but later revised it to Rs 161 billion. The government has budgeted nothing for budgetary support from friendly countries for the next fiscal year. No amount was budgeted under this head for the current fiscal year either.
Copyright Business Recorder, 2021