PTI govt acquired Rs24tr loan in four year tenure: Aisha Ghaus Pasha

F.P. Report

ISLAMABAD: Minister of State for Finance and Revenue Aisha Ghaus Pasha said that Pakistan Tehreek-e-Insaf (PTI) government acquired Rs 24.2 trillion loan in their four year tenure.

As per details, the state minister presented the details of loans taken by Pakistan Tehreek-e-Insaf (PTI) government in their four year tenure, to National Assembly.
She said that the loan amount was not spent on development projects as they did not start a big project in their tenure and the current government had to pay a hefty amount in interest on that loan.

The report revealed that PTI government took Rs 14.6 trillion loan from national institutions while more than Rs 9 trillion from international organizations.

Earlier sources revealed that Pakistan is now looking towards friendly countries for more funding following the delay in the revival of $6.5 billion International Monetary Fund (IMF) bailout programme.

The staff-level agreement between International Monetary Fund and Pakistan is being delayed from February 9.

The current loan programme with the IMF will end on June 30, 2023, and Pakistan is now ‘considering’ a new IMF programme on renewed conditions.

The fund is delaying the ninth review with Islamabad which has ‘forced’ Pakistan to get rid of the current loan programme and generate more funds from friendly countries, sources said.

It is worth mentioning that the IMF has asked Pakistan to arrange $6 billion in external financing till June 2023 to avoid default. Due to a delay in arranging these funds, the 9th programme review worth $1.2 billion remains incomplete. (NNI)