Govt took $6.9b foreign loans in just 9 months - Good Governance of PML-N

[notorious_eagle]

ISLAMABAD - The government has taken whopping $6.
9 billion loans in just nine months from international financial institutions and different countries, which enhanced the country’s overall debt.

The PML-N government received $1.
5 billion from the International Monetary Fund (IMF) and $5.
4 billion from multilateral and bilateral donors during first nine months (July-March) of the ongoing financial.
Pakistan’s overall debt had surged to Rs18.
69 trillion by end of January 2016 due to the massive borrowing from international lenders.
Foreign debt was recorded at Rs5, 573.
6 billion ($53,122.
0 million) and domestic debt at Rs13, 120.
6 billion.

Massive borrowing helped the government in increasing country’s foreign exchange reserves to nearly $21 billion, of which SBP’s reserves are about $16 billion.
The Ministry of Finance defended the foreign loans taken by the government since coming into power in June 2016.

“All inclusive cost of the total external debt obtained by present government comes to around 3.
30 percent, which is significantly lower than the domestic financing cost of about 10.
0 percent, even if one builds a margin of capital loss due to exchange rate depreciation.
Thus, the cost of external debt contracted by the current government is highly economical”, the Ministry of Finance stated.
It added that share of external loans maturing within one year is equal to around 28 percent of official liquid reserves at the end of 2014-15 as compared with around 69 percent at the end of 2012-13.

Meanwhile, Pakistan is currently negotiating with the IMF in Dubai for another tranche of $500 million.
The official documents of the Economic Affairs Divisions showed that Pakistan has taken $5.
4 billion loans from the multilateral and bilateral donors.
On top of the list, the government took $1.
4 billion loan from commercial banks during July-March period of the current fiscal year as against the budgeted amount of $200 million.

Pakistan received $721.
8 million from the Asian Development Bank (ADB) during nine months of FY15-16 against the budgeted estimates of $1020.
4 million.
Meanwhile, China provided loan of $615.
7 million during July-March period against the annual estimated amount of $3.
04 billion.

Another larger component of the assistance was the auction of Eurobond of $500 million.
The government has still got a space to auction another bond of the same value before the end of June 2016, as it estimates to generate $1 billion during the current financial year.

International Development Association (IDA) released $708.
8 million for Islamabad during period under review.
Similarly, UK disbursed $246.
9 million.
Pakistan received $129.
2 million from the United States of America (USA), $78.
5 million from the International Bank of Reconstruction and Development (IBRD) and $81.
5 million from the Islamic Development Bank during July-March period of the year 2015-2016.

Kuwait disbursed $48.
66 million, Germany $31.
98 million and IDB (S-Term) $684.
8 million in the current fiscal year.
However, the government received no assistance from Australia, EU, Italy, Norway and UNDP during the period under review.

http://nation.com.pk/business/05-May-2016/govt-took-6-9b-foreign-loans-in-just-9-months

Looks like more Dollars are going to be transferred to Offshore Companies.

 

[JOEY TRIBIANI]

Betey billionaires ha baap bheek mangta phir raha ..

 

[New Resolve]

The Panama regime drowning everyone including their Chawal supporters in eternal debt.

 

[Viper0011.]

ISLAMABAD - The government has taken whopping $6.
9 billion loans in just nine months from international financial institutions and different countries, which enhanced the country’s overall debt.

The PML-N government received $1.
5 billion from the International Monetary Fund (IMF) and $5.
4 billion from multilateral and bilateral donors during first nine months (July-March) of the ongoing financial.
Pakistan’s overall debt had surged to Rs18.
69 trillion by end of January 2016 due to the massive borrowing from international lenders.
Foreign debt was recorded at Rs5, 573.
6 billion ($53,122.
0 million) and domestic debt at Rs13, 120.
6 billion..

NS should as the God like Moses, to send all the Roads, Dams, Infrastructure through Angels for free. If you built it in the world you'd make money. I guess IK is waiting on a Miracle like the Moses one, he REALLY thinks that angels will come down and will make him the PM and will build all the roads, infrastructure and all for him. Which is why, he doesn't do anything, even from where he won some seats in KPK

The US, China, India, ALL have loans. Without debt, you can't build stuff. If these rich nations have loans, why would it be awkward for Pakistan to have loans, SPECIALLY when thieves have billion dollar homes from playing cricket ALL of a SUDDEN. And no past history of taxes or a business. In fact, they have millions in partnerships with Indians without keeping that legal. So if these rich thives in Pakistan had PAID taxes for the past 60 years, you wouldn't need loans.

But the jobs are expected in millions. Taking loans to create jobs to pay back these loans from taxes, isn't wrong or bad. It jump starts the country's economy and makes millions employed.

What's IK's proposal outside of stealing power from NS and steal his work? NOTHING. Like I said, he is REALLY thinking God will send angels to build everything for IK for free. Like a corrupt Pakistani angel gave him a "gift" of a billion worth home (land taken from people through gangsters and through giving them death threats, which means IK can go to jail for 10-12 years on this ONE count)!! Go figure!!

 

[AbRaj]

ISLAMABAD - The government has taken whopping $6.
9 billion loans in just nine months from international financial institutions and different countries, which enhanced the country’s overall debt.

The PML-N government received $1.
5 billion from the International Monetary Fund (IMF) and $5.
4 billion from multilateral and bilateral donors during first nine months (July-March) of the ongoing financial.
Pakistan’s overall debt had surged to Rs18.
69 trillion by end of January 2016 due to the massive borrowing from international lenders.
Foreign debt was recorded at Rs5, 573.
6 billion ($53,122.
0 million) and domestic debt at Rs13, 120.
6 billion.

Massive borrowing helped the government in increasing country’s foreign exchange reserves to nearly $21 billion, of which SBP’s reserves are about $16 billion.
The Ministry of Finance defended the foreign loans taken by the government since coming into power in June 2016.

“All inclusive cost of the total external debt obtained by present government comes to around 3.
30 percent, which is significantly lower than the domestic financing cost of about 10.
0 percent, even if one builds a margin of capital loss due to exchange rate depreciation.
Thus, the cost of external debt contracted by the current government is highly economical”, the Ministry of Finance stated.
It added that share of external loans maturing within one year is equal to around 28 percent of official liquid reserves at the end of 2014-15 as compared with around 69 percent at the end of 2012-13.

Meanwhile, Pakistan is currently negotiating with the IMF in Dubai for another tranche of $500 million.
The official documents of the Economic Affairs Divisions showed that Pakistan has taken $5.
4 billion loans from the multilateral and bilateral donors.
On top of the list, the government took $1.
4 billion loan from commercial banks during July-March period of the current fiscal year as against the budgeted amount of $200 million.

Pakistan received $721.
8 million from the Asian Development Bank (ADB) during nine months of FY15-16 against the budgeted estimates of $1020.
4 million.
Meanwhile, China provided loan of $615.
7 million during July-March period against the annual estimated amount of $3.
04 billion.

Another larger component of the assistance was the auction of Eurobond of $500 million.
The government has still got a space to auction another bond of the same value before the end of June 2016, as it estimates to generate $1 billion during the current financial year.

International Development Association (IDA) released $708.
8 million for Islamabad during period under review.
Similarly, UK disbursed $246.
9 million.
Pakistan received $129.
2 million from the United States of America (USA), $78.
5 million from the International Bank of Reconstruction and Development (IBRD) and $81.
5 million from the Islamic Development Bank during July-March period of the year 2015-2016.

Kuwait disbursed $48.
66 million, Germany $31.
98 million and IDB (S-Term) $684.
8 million in the current fiscal year.
However, the government received no assistance from Australia, EU, Italy, Norway and UNDP during the period under review.

http://nation.com.pk/business/05-May-2016/govt-took-6-9b-foreign-loans-in-just-9-months

Looks like more Dollars are going to be transferred to Offshore Companies.

So that's the reason of Pakistan's growing economy
I thought it was CPEC

 

[Tipu7]

I doubt where is that "infrastructure"....?

Metro networks? Underpass? Orange Train?
Building road on road? Overhead bridges?

I don't find any School, University, Hospital on his "construction" list......

In schools students are sitting on ground as there is no furniture, in usual days in emergency rooms each bed is shared by two patients as there are not enough beds. Government pharmacies are empty and private sector is earning money by selling expensive medicines.

Seriously I don't have words to make a picture. How they have ruined every thing.

And here you are, acting like typical "Nooni Tooni" & blaming on IK and showing colorful dreams which simply don't exist.

NS should as the God like Moses, to send all the Roads, Dams, Infrastructure through Angels for free. If you built it in the world you'd make money. I guess IK is waiting on a Miracle like the Moses one, he REALLY thinks that angels will come down and will make him the PM and will build all the roads, infrastructure and all for him. Which is why, he doesn't do anything, even from where he won some seats in KPK

The US, China, India, ALL have loans. Without debt, you can't build stuff. If these rich nations have loans, why would it be awkward for Pakistan to have loans, SPECIALLY when thieves have billion dollar homes from playing cricket ALL of a SUDDEN. And no past history of taxes or a business. In fact, they have millions in partnerships with Indians without keeping that legal. So if these rich thives in Pakistan had PAID taxes for the past 60 years, you wouldn't need loans.

But the jobs are expected in millions. Taking loans to create jobs to pay back these loans from taxes, isn't wrong or bad. It jump starts the country's economy and makes millions employed.

What's IK's proposal outside of stealing power from NS and steal his work? NOTHING. Like I said, he is REALLY thinking God will send angels to build everything for IK for free. Like a corrupt Pakistani angel gave him a "gift" of a billion worth home (land taken from people through gangsters and through giving them death threats, which means IK can go to jail for 10-12 years on this ONE count)!! Go figure!!

 

[Dalit]

Looted commission money waiting to be transferred to offshore companies and accounts. These people don't care about burdening a fragile economy with more debt. In fact, they do it gladly. I wouldn't even be surprised if they directly stole loan money too.

I hate to say this, but the people deserve the Noora's. No doubt, the Noora's rig elections and buy votes through bribes, but people also willingly vote for these scum. These leaders merely reflect the people. Everywhere you look there is corruption and dishonesty. Not a single project is clean. They initiate heaps of projects to siphon off money. When they are confronted about their wretched ways, they insult and defame you. The projects too turn out to be halfhearted attempts and the people don't even benefit slightly from such corrupt projects. It is that bad. The scum of the universe.

 

[notorious_eagle]

Betey billionaires ha baap bheek mangta phir raha ..

Hahahhaah

You couldn't have put it better than this. Just one correction, betay became billionaires without any business or work, they just magically became billionaires.

I doubt where is that "infrastructure"....?

Metro networks? Underpass? Orange Train?
Building road on road? Overhead bridges?

I don't find any School, University, Hospital on his "construction" list......

In schools students are sitting on ground as there is no furniture, in usual days in emergency rooms each bed is shared by two patients as there are not enough beds. Government pharmacies are empty and private sector is earning money by selling expensive medicines.

Seriously I don't have words to make a picture. How they have ruined every thing.

And here you are, acting like typical "Nooni Tooni" & blaming on IK and showing colorful dreams which simply don't exist.

Can you please ignore him and put him on your ignore list? He actually claims to be a White American, who cannot form sentences in English properly and neither can he spell in English. He claims to have no interests in Pakistan and than writes these ridiculous long posts supporting Nawaz Sharif and sometimes magically appears to understand Urdu, while at the same time claiming to be a White American. Hahahahahhaa

 

[xyxmt]

NS should as the God like Moses, to send all the Roads, Dams, Infrastructure through Angels for free. If you built it in the world you'd make money. I guess IK is waiting on a Miracle like the Moses one, he REALLY thinks that angels will come down and will make him the PM and will build all the roads, infrastructure and all for him. Which is why, he doesn't do anything, even from where he won some seats in KPK

The US, China, India, ALL have loans. Without debt, you can't build stuff. If these rich nations have loans, why would it be awkward for Pakistan to have loans, SPECIALLY when thieves have billion dollar homes from playing cricket ALL of a SUDDEN. And no past history of taxes or a business. In fact, they have millions in partnerships with Indians without keeping that legal. So if these rich thives in Pakistan had PAID taxes for the past 60 years, you wouldn't need loans.

But the jobs are expected in millions. Taking loans to create jobs to pay back these loans from taxes, isn't wrong or bad. It jump starts the country's economy and makes millions employed.

What's IK's proposal outside of stealing power from NS and steal his work? NOTHING. Like I said, he is REALLY thinking God will send angels to build everything for IK for free. Like a corrupt Pakistani angel gave him a "gift" of a billion worth home (land taken from people through gangsters and through giving them death threats, which means IK can go to jail for 10-12 years on this ONE count)!! Go figure!!

this post only tells you that Pakistan's education system is junk, shows the level of educated youth's knowledge

 

[Talwar e Pakistan]

So that's the reason of Pakistan's growing economy
I thought it was CPEC

First off, CPEC is not done nor fully functional; especially after it was expanded to around 70-80 billion dollars.

Secondly, this economic growth is nothing compared to our previous growth rates. Terrorism has lagged us behind and has caused Pakistan to lose around 80 billion dollars; which led to a brief economic decay. Terrorism set off a chain of events which linked to spikes in crime, corruption and violence.

International organizations and powerful countries alike have shown surprise and amaze at how Pakistan managed to keep a growing economy despite the massive challenges set in-front of it.

Now that terrorism, crime and corruption is subsiding, billions being poured into development, and nearing completion of CPEC - imagine what our growth rate will come up to?

Pakistan has been known to go from 1% to 12% in growth rates and only once has it experienced negative growth rate. Pakistan is naturally bound to be economically successful.

Also, Pakistanis tend to go apeshit whenever the Government makes a move - they take every negative perspective. This article highlights that and makes no mention that every country has loans and debt and that they are crucial for any country. Even the richest countries have loans and debt. Infact; Pakistan's debt is low compared to countries with the same economic strength.

 

[RoadRunner401]

NS should as the God like Moses, to send all the Roads, Dams, Infrastructure through Angels for free. If you built it in the world you'd make money. I guess IK is waiting on a Miracle like the Moses one, he REALLY thinks that angels will come down and will make him the PM and will build all the roads, infrastructure and all for him. Which is why, he doesn't do anything, even from where he won some seats in KPK

The US, China, India, ALL have loans. Without debt, you can't build stuff. If these rich nations have loans, why would it be awkward for Pakistan to have loans, SPECIALLY when thieves have billion dollar homes from playing cricket ALL of a SUDDEN. And no past history of taxes or a business. In fact, they have millions in partnerships with Indians without keeping that legal. So if these rich thives in Pakistan had PAID taxes for the past 60 years, you wouldn't need loans.

But the jobs are expected in millions. Taking loans to create jobs to pay back these loans from taxes, isn't wrong or bad. It jump starts the country's economy and makes millions employed.

What's IK's proposal outside of stealing power from NS and steal his work? NOTHING. Like I said, he is REALLY thinking God will send angels to build everything for IK for free. Like a corrupt Pakistani angel gave him a "gift" of a billion worth home (land taken from people through gangsters and through giving them death threats, which means IK can go to jail for 10-12 years on this ONE count)!! Go figure!!

So, your comeback for PML_N government failure is blaming IK.

 

[AbRaj]

First off, CPEC is not done nor fully functional; especially after it was expanded to around 70-80 billion dollars.

Secondly, this economic growth is nothing compared to our previous growth rates. Terrorism has lagged us behind and has caused Pakistan to lose around 80 billion dollars; which led to a brief economic decay. Terrorism set off a chain of events which linked to spikes in crime, corruption and violence.

International organizations and powerful countries alike have shown surprise and amaze at how Pakistan managed to keep a growing economy despite the massive challenges set in-front of it.

Now that terrorism, crime and corruption is subsiding, billions being poured into development, and nearing completion of CPEC - imagine what our growth rate will come up to?

Pakistan has been known to go from 1% to 12% in growth rates and only once has it experienced negative growth rate. Pakistan is naturally bound to be economically successful.

Also, Pakistanis tend to go apeshit whenever the Government makes a move - they take every negative perspective. This article highlights that and makes no mention that every country has loans and debt and that they are crucial for any country. Even the richest countries have loans and debt. Infact; Pakistan's debt is low compared to countries with the same economic strength.

Why all Pakistani posters take ever post of Indian posters seriously.
Chill out dude, it's just nothing serious

 

[Hellfire]

You couldn't have put it better than this. Just one correction, betay became billionaires without any business or work, they just magically became billionaires.

The problem is rampant on either side of border ... I think we should form a union again .... on the lines of European union ... partition was a bad idea ... corruption and thievery is inherent to both sides' politicians!!! See, when people say India and Pakistan are different? This is one solid proof there is no difference

 

[A.M.]

I see that our arm chair economists are in full force today. Explain to me, how does one move money from a country's Forex into their own personal accounts?

 

[Dalit]

First off, CPEC is not done nor fully functional; especially after it was expanded to around 70-80 billion dollars.

Secondly, this economic growth is nothing compared to our previous growth rates. Terrorism has lagged us behind and has caused Pakistan to lose around 80 billion dollars; which led to a brief economic decay. Terrorism set off a chain of events which linked to spikes in crime, corruption and violence.

International organizations and powerful countries alike have shown surprise and amaze at how Pakistan managed to keep a growing economy despite the massive challenges set in-front of it.

Now that terrorism, crime and corruption is subsiding, billions being poured into development, and nearing completion of CPEC - imagine what our growth rate will come up to?

Pakistan has been known to go from 1% to 12% in growth rates and only once has it experienced negative growth rate. Pakistan is naturally bound to be economically successful.

Also, Pakistanis tend to go apeshit whenever the Government makes a move - they take every negative perspective. This article highlights that and makes no mention that every country has loans and debt and that they are crucial for any country. Even the richest countries have loans and debt. Infact; Pakistan's debt is low compared to countries with the same economic strength.

I agree with much what you have said, but you cannot ignore the fact that the current government is extremely corrupt and insufficient as far governing is concerned. It's not the Pakistani people nor the media that went apeshit when the Panama leaks came to the forefront. This revelation wasn't even announced by a Pakistani. The fact that the Noora government went on the defensive and falsely accused others of wrongdoing is very telling. It was panic mode for Panama league. Ever seen a PM on national TV making accusations against a party or an individual? That's right, Nawaz Sharif did this without even thinking about the consequences. You'll have to acknowledge the massive failings and ineptitude of the Noora government. There is no point in blaming the media, PTI, IK, the Pakistani people for the mess which Nawaz Sharif created for the country and himself.