ISLAMABAD: The government has estimated foreign assistance of Rs 3.166 trillion for 2022-23 including Rs 1.389 trillion (44 percent) against Rs 2.747 trillion budgeted for the current fiscal year which was later revised upward to Rs 3.144 trillion.

The external resources projected for 2022-23 are greater by around 15 percent and one percent respectively when compared to the budgeted and revised estimates of 2021-22.

The government has budgeted estimates of Rs 722.341 billion under the head of programme loans and Rs 2.133 trillion under the head of other loans.

The programme loans estimated in the budget for 2022-23 are classified as Rs 140.884 billion from Asian Development Bank (ADB), Rs 159.608 billion from International Development Association (IDA), Rs 115.878 billion from International Bank for Reconstruction and Development (IBRD) and Rs 303.180 billion from Pakistan certificates.

The government had budgeted Rs 496 billion from the International Monetary Fund (IMF) for the current fiscal year for budgetary support however no amount has been budgeted for next fiscal year from the Fund.

Further no amount has been budgeted from China safe deposits (bilateral) for next fiscal year. The government has budgeted Rs 148.8 billion from Saudi Arabia (oil facility) for next fiscal year against zero for the current fiscal year which has been revised to Rs 70 billion.

The government budgeted Rs 1.389 trillion from foreign commercial banks for 2022-23 i.e. 44 percent of the total Rs 3.166 trillion against Rs 779.2 billion for 2021-22 which was later revised upward to Rs 821.923 billion.

The government budgeted Rs 372 billion from Eurobond/international Sukuk for 2022-23 against Rs 560 billion budgeted for the current fiscal year which is revised to Rs342.544 billion.

The government has budgeted Rs 223.2 billion from Islamic Development Bank for next fiscal year against Rs 160 billion for the current fiscal year which was revised to Rs 232.225 billion.

Copyright Business Recorder, 2022