The government has estimated foreign assistance of Rs 3.032 trillion for 2019-20 against Rs 1.118 trillion budgeted for the current fiscal year which was later revised upward to Rs 1.403 trillion. The external resources projected for 2019-20 are higher by 171.2 percent and 116.1 percent respectively when compared with budget and revised estimates of 2018-19.
The rise is attributable to loans from friendly countries, foreign commercial banks, International Monetary Fund (IMF) and issuance of Sukuk bonds. The government has budgeted estimates of Rs 750 billion from friendly countries for the next fiscal year, though no amount is shown in the budget document for the current fiscal year under this head. Further the government has budgeted Rs 484.701 billion from Saudi Arabia (Saudi oil) for the next fiscal year and Rs 5.483 billion for the current fiscal year from Saudi Arabia which was later revised to Rs 8.894 billion.
The government has budgeted Rs 357.450 billion from the IMF for the next fiscal year for budgetary support. However, there were discrepancies in data that appeared in the budget in brief and the estimates of foreign assistance.
According to estimates of foreign assistance, the government has budgeted an amount of Rs 300 billion from commercial banks for 2019-20 against Rs 234 billion for 2018-19 which was later revised upward to Rs 502.062 billion. However, according to the budget in brief, the government has budgeted Rs 450 billion from commercial banks for 2019-20 against Rs 351 billion for 2018-19 which was later revised downward to Rs 6.875 billion.
The government has budgeted Rs 450 billion from Sukuk bonds for 2019-20 against Rs 351 billion for the current fiscal year which were revised to Rs 6.875 billion. However, according to the budget in brief, the government has budgeted Rs 300 billion from Sukuk bonds for 2019-20 against Rs 234 billion for the current fiscal year which were revised to Rs 543.95 billion. The government has budgeted estimates of Rs 60.908 billion from China for next fiscal year against Rs 98.395 billion for the current fiscal year which were later revised to Rs 502.062 billion.
The government has budgeted nothing under the China Safe Deposits which were zero in the last budget but later revised to Rs 275 billion. Under the head of loans, Rs 3.003 trillion have been budgeted for 2019-20 against the budgeted estimates of Rs 1.087 trillion for the current fiscal year which were later revised to Rs 1.366 trillion.
The government has budgeted Rs 28.496 billion under the head of grants for next fiscal year against Rs 30.032 billion budgeted for 2018-19 which were later revised to Rs 36.68 billion. Under the head of outside PSPD resources, Rs 13.796 billion have been estimated for the next fiscal year which were Rs 8.604 billion for the current fiscal year and later revised to Rs 16.07 billion. The government has budgeted Rs 252.193 billion from the Asian Development Bank (ADB) for 2019-20 against Rs 161.632 billion for the current financial year which was revised to Rs 77.825 billion; and budgeted Rs 148.272 billion from the International Development Association (IDA) against Rs 68.253 billion for 2018-19, which was revised to Rs 72.577 billion.
According to the estimates of foreign assistance, the government has budgeted Rs 166.139 billion from Islamic Development Bank (IDB) for the next fiscal year against Rs 119.479 billion for the current fiscal year which was later revised to Rs 101.413 billion. The government has budgeted Rs 17.839 billion from International Bank for Reconstruction and Development (IBRD) for the next fiscal year against Rs 23.668 billion for the current fiscal year which was later revised to Rs 22.561 billion.
The government has estimated budgeted assistance of Rs 4.605 billion from France for 2019-20 against an amount of Rs 6.183 billion for the current fiscal year which was later revised to Rs 11.920 billion, Rs 1.715 billion from Korea for next fiscal year against Rs 5.572 billion for the current fiscal year which was revised to Rs 85 million, Rs 70 million from Turkish Exim Bank for next fiscal year against Rs 40 million for the current fiscal year which was revised to zero, Rs 12.348 billion from USA for the next fiscal year against Rs 10.659 billion for the current fiscal year which was later revised to Rs 15.444 billion, Rs 3.150 billion for 2019-20 from Japan against Rs 4.72 billion for 2018-19 which were later revised to Rs 11.707 billion.