KARACHI – Pakistan has recorded 51 percent decline in the disbursement of foreign loans and assistance in eight months of the ongoing financial year. From July to February during the current financial year, Pakistan has received only $1.337 billion from donors and multilateral lenders. In the last financial period, the country has received $2.741 billion from July-Feb period, Pakistan Today learnt on Thursday. A fifty one percent decline in the disbursement of foreign loans and credit to Pakistan in this fiscal period despite the unprecedented damage incurred in massive summer floods and the daunting challenge posed by rehabilitation, seemingly indicate that the donors and multilateral lending agencies have failed to come up to the expectations of Pakistan.
The United Nations, the World Bank, the Asian Development Bank and the Islamic Development Bank have promised with Pakistan government to extend their maximum financial support to cope with the flood devastation and the task of the rehabilitation of the millions of affected people. But practically, the UN and the donors have not made any extra ordinary support of Pakistan that was evident from 51 percent decrease in the disbursement of the foreign loans and assistance from July-February FY11. It is surprising to note is that in last two financial years, Pakistan has received $7.833 billion as foreign loans or assistance
51pc decline seen in foreign loans in FY11
