Law and Justice Minister Zahid Hamid on Thursday informed the Senate that foreign loans of $2,557.39 million were obtained from international organisations during the fiscal year 2016-17 till January 31, 2017.
During the questioning hour in the house, the minister said that debt servicing was made through budgetary allocation based on amortisation schedule of each loan.
Giving details, the minister said, out of the said amount US$ 1200m have been obtained from China Development Bank, China ICBC and Noor Bank, while US$ 1255m were obtained from the multilateral institutions like Asian Development Bank, AIIB, IBRD, IDA, IDB, IDB (ST) and the IFAD.
He further stated that during the mentioned period, Pakistan had received an amount of US$ 102.1 million from the International Monetary Fund (IMF).
