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ISLAMABAD - The pace of receiving foreign economic assistance has impeded during first five months (July-November) of the current fiscal year 2014-15, as Pakistan received only 21 percent of the budgeted annual estimate of $7.4 billion to be disbursed this year.
Pakistan had received $1.56 billion during July-November 2014-15, which is only 21 percent of the budgeted annual estimate of $7.4 billion to be disbursed this year, showed the latest figures of Economic Affairs Division (EAD).
The figures showed that country had received $66 million in the month of November 2014 as foreign economic assistance from various sources like development banks and countries.
It is worth mentioning here that foreign economic assistance neither includes the tranches from International Monetary Fund (IMF) under Extended Fund Facility (EFF) nor the amount received under the Coalition Support Fund (CSF) from the United States.
The government held the auction of Sukuk (Islamic bonds) at the end of November, which generated $1 billion for the national kitty. However, the amount had not highlighted in the monthly figures of Economic Affairs Division. The amount of Sukuk bond would be highlighted in next month’s figures of Economic Affairs Division.
According to the break-up of $1.56 billion during July-November 2014-15, Pakistan had gotten $220 million from Asian Development Bank (ADB) during five months of the ongoing financial year. The Bank is supposed to provide $1.09 to the country during whole fiscal year 2014-15.
Similarly, the country had received $351 million from China during July-November, as the ever-trusted friendly country would provide $1.462 billion to Pakistan before June 30 2015. Meanwhile, UK provides $84 million against the annual estimate of $246 million. According to the documents, the US disbursed $50 million against the annual estimate of $358 million.
Meanwhile, the Islamic friendly country, Saudi Arabia, did not provide a single penny during first five months of FY2014. The Islamic friendly country had to provide $171 during current year.
The Islamic Development Bank (IDB) had provided more than annual budgeted amount during July-November period. The IDB had disbursed $656 million to Pakistan during five months, as the Bank was supposed to provide $580 million to Islamabad during whole year 2014-15.
Against the annual estimate of $1.9 billion, the disbursement from the World Bank (WB) was $82 million during first five months of the current fiscal year, according to the EAD documents. According to the documents, the consortium of commercial banks provided assistance worth of $82 million and it would has to provide $100 million this year. Similarly, the country had received $67 million from other sources during July-November.
Pakistan received just 21pc foreign economic help in five months
Pakistan had received $1.56 billion during July-November 2014-15, which is only 21 percent of the budgeted annual estimate of $7.4 billion to be disbursed this year, showed the latest figures of Economic Affairs Division (EAD).
The figures showed that country had received $66 million in the month of November 2014 as foreign economic assistance from various sources like development banks and countries.
It is worth mentioning here that foreign economic assistance neither includes the tranches from International Monetary Fund (IMF) under Extended Fund Facility (EFF) nor the amount received under the Coalition Support Fund (CSF) from the United States.
The government held the auction of Sukuk (Islamic bonds) at the end of November, which generated $1 billion for the national kitty. However, the amount had not highlighted in the monthly figures of Economic Affairs Division. The amount of Sukuk bond would be highlighted in next month’s figures of Economic Affairs Division.
According to the break-up of $1.56 billion during July-November 2014-15, Pakistan had gotten $220 million from Asian Development Bank (ADB) during five months of the ongoing financial year. The Bank is supposed to provide $1.09 to the country during whole fiscal year 2014-15.
Similarly, the country had received $351 million from China during July-November, as the ever-trusted friendly country would provide $1.462 billion to Pakistan before June 30 2015. Meanwhile, UK provides $84 million against the annual estimate of $246 million. According to the documents, the US disbursed $50 million against the annual estimate of $358 million.
Meanwhile, the Islamic friendly country, Saudi Arabia, did not provide a single penny during first five months of FY2014. The Islamic friendly country had to provide $171 during current year.
The Islamic Development Bank (IDB) had provided more than annual budgeted amount during July-November period. The IDB had disbursed $656 million to Pakistan during five months, as the Bank was supposed to provide $580 million to Islamabad during whole year 2014-15.
Against the annual estimate of $1.9 billion, the disbursement from the World Bank (WB) was $82 million during first five months of the current fiscal year, according to the EAD documents. According to the documents, the consortium of commercial banks provided assistance worth of $82 million and it would has to provide $100 million this year. Similarly, the country had received $67 million from other sources during July-November.
Pakistan received just 21pc foreign economic help in five months
