National Assembly (NA) standing committee on economic affairs has been told that outstanding dues and foreign loans payable by Pakistan have surpassed 60 billion dollars.
Committee met here Friday under its chairman Malik Azmat at parliament house. Secretary Economic Affairs told the committee structure of ministry for economic affairs was being changed entirely.
He stated provinces could now procure loans from domestic financial institutions and donor agencies directly but they would have to obtain permission from National Economic Council.
He said Pakistan owed outstanding dues and foreign loan to the tune of above 60 billion dollars . Overall foreign debt runs to 58.9 billion dollars while the remaining are outstanding dues. Medium and long term loans stand at 45 billion dollars while defence loan comes to 135 million dollars. Loan amounting to 100 million dollars was obtained from commercial banks, he disclosed.
Some countries had started disbursing direct loans to NGOs operating in Pakistan and no check and balance system was in place on this count, he told. A summary however was being sent to Prime Minister for suspension of all such agreements and MOUs.
Committee also raised objections over use and distribution of foreign aid through NGOs.
Jiye bhutto, lutto or phutto! 🙂
These loans were taken by the elite of Pakistan and The Faujj. They will pay it themselves or they can sell us all for medical experiments to India. Either way we the people are due for a new Passport
It's about time Pakistan's Budget process gets some REAL Transparency. Otherwise there would be darker days ahead…
Jiye bhutto, lutto or phutto! 🙂
Comments are closed.