Foreign economic aid target reduced for current financial year: Report

In the report of the Economic Affairs Division, it has been stated that the target of foreign economic assistance set for the current fiscal year has been reduced, the target of FEA in the budget of the current fiscal year was 17.62 billion dollars, the FEA target has been reduced to 11. Billions of dollars have been made.

According to the report, in the first 8 months, Pakistan received foreign economic assistance worth 6.68 billion dollars, which is about 38 percent of the foreign economic assistance annual budget target. FEA decreased by 10% compared to the corresponding period of the fiscal year.

According to the report of the Economic Affairs Division, Foreign Economic Assistance is in addition to the amount received from the IMF, excluding the $1 billion received from the UAE, including the amount received from the IMF and the UAE is 9.53 billion. dollars received, the total amount received represents 54 percent of the annual goal.

In the report, the Economic Affairs Division has said that despite the IMF support, the ways of foreign loans are limited, despite the IMF support, the country’s rating in the global markets remained poor, the needs of foreign aid from better credit and trade management. If reduced, the current account deficit could be $2 billion instead of $6 billion.

According to the report of Economic Affairs Division, Pakistan received foreign economic assistance worth 333 million dollars in February, FEA received was 331 million dollars in January, received 1.62 billion dollars in foreign economic assistance in December. 3 international institutions provided loans to Pakistan.

According to the report, World Bank gave 638 million dollars, ADB gave 469 million dollars, Asian Infrastructure Investment Bank gave 255 million dollars loan in December, 318 million dollars in October, 321 million dollars were received in September, 8 of the current fiscal year. 2.6 dollars received from Saudi Arabia per month, money from Saudi Arabia came as time deposit and oil facility.

The report of the Economic Affairs Division also stated that 1.375 billion dollars were received from the World Bank in 8 months, while ADB gave a loan of 643 million dollars in the same period.