PML-N plans to take $12.53bn loan until June 2018

[Musketeeer]

ISLAMABAD (20-Oct-2016)

In its three-year stint, the PML-N government has obtained $25 billion as fresh foreign loans in addition to borrowing Rs3.1 trillion ($30 billion) from the domestic market for budget financing, said Ehtesham Rashid, Director General of the Debt Office at the Ministry of Finance Wednesday.

In dollar terms, the government’s total domestic and foreign borrowings amounted to $55 billion during the last three years. However, the impact of domestic borrowing is not as adverse as that of foreign borrowings due to the liberty of printing rupee amid inflation that remains under control.

Out of the $25 billion in foreign loans the government has obtained from June 2013 to June 2016, an amount of $11.95 billion was spent in repayment of previous loans, said Rashid.

اسے کہتے ھیں نئے قرضے لیکر پرانے قرضے چکانا اور کھوتے جیسی عقل والی عوام کو 'چ' بنانا ​

I Don't let myself into an argument with ethically uneducated people.
But still here is the source.
61 Billion Dollar in 2013
72 Billion Dollar in 2016
http://www.tradingeconomics.com/pakistan/external-debt

 

[Kabira]

You meant the corruption combination of Kiyani and Zardari?People with average minds have no sharaam, thats what you did when you spent all the money on islammabad and gave literally nothing to the bengalis.Just low skilled labour and then went on your knees in 90K+ numbers.

Since when did Ayub Khan and Bhutto become punjabi? No problem if they were from somwhere Punjab province, but last time I checked they are not. What they did to Bengalis isn't only fault of punjabis. And yes I'm talking about most corrupt government in history of Pakistan, PPP. They have ruined Karachi, they ruined Pakistan. And yet they couldn't do anything for interior sindh either. No wonder corrupt Kiyani was allowed two terms.

 

[PakSword]

​

​

I Don't let myself into an argument with ethically uneducated people.
But still here is the source.
61 Billion Dollar in 2013
72 Billion Dollar in 2016
http://www.tradingeconomics.com/pakistan/external-debt

Source: https://defence.pk/threads/pml-n-pl...n-until-june-2018.467478/page-4#ixzz4TJWrirJU​

But you said in your earlier post that Pakistan borrowed 11 billion and returned 10.7? How on earth this could lead to a net increase of approx. 11 billion?

Anyway, I also don't argue with unethically educated people.

The source that I quoted mentions the statement of Director General of the Debt Office at the Ministry of Finance.

But yes, I have to agree with you that the foreign source might be right. I find it really hard to accept what our government says. If PM can lie on the floor of the parliament, what should we expect from DG Debt Office at MoF?​

No, you prove that we are not taking record amount of loans. Prove your statements with factual figure with Past.
It's you are in government

Sir ji.. the source he quoted states the following:

External Debt in Pakistan increased to 72978 USD Million in the second quarter of 2016 from 69558 USD Million in the first quarter of 2016. External Debt in Pakistan averaged 50697.07 USD Million from 2002 until 2016, reaching an all time high of 72978.00 USD Million in the second quarter of 2016 and a record low of 33172.00 USD Million in the third quarter of 2004.

 

[JOEY TRIBIANI]

and who will pay ? Mariyam chorni?

 

[Musketeeer]

​

But you said in your earlier post that Pakistan borrowed 11 billion and returned 10.7? How on earth this could lead to a net increase of approx. 11 billion?

Anyway, I also don't argue with unethically educated people.

The source that I quoted mentions the statement of Director General of the Debt Office at the Ministry of Finance.

But yes, I have to agree with you that the foreign source might be right. I find it really hard to accept what our government says. If PM can lie on the floor of the parliament, what should we expect from DG Debt Office at MoF?​

Sir ji.. the source he quoted states the following:

External Debt in Pakistan increased to 72978 USD Million in the second quarter of 2016 from 69558 USD Million in the first quarter of 2016. External Debt in Pakistan averaged 50697.07 USD Million from 2002 until 2016, reaching an all time high of 72978.00 USD Million in the second quarter of 2016 and a record low of 33172.00 USD Million in the third quarter of 2004.

I gave you the source of a newspaper about returns of loans.
And i told you about the increase of loan in last three and half years by the most reliable international source trading economics. You do know that neither you and I have the information of everything happening in Pakistan.

External Debt in Pakistan averaged 50697.07 USD Million from 2002 until 2016, reaching an all time high of 72978.00.

50691 in 2002 and 72978 in 2016. Surely there must have been some loan taken in 11 years starting from 2002 to 2013.

 

[rizwan215]

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[darksider]

You mean Pakistan is 3rd world country? N or for that matter even PTI farishtay can't change this reality in few years. But we neither can afford another 5 years of corruption and little development and all time high terrorism. TTP would have opened office in Islamabad if PTI had won. Its a fact every political party develop areas where they win, every province get share in budget to spend where they see fit.

Look what PPP have done to Karachi or PTI to hazara division in KPK. At least major punjab projects like metro bus, safe city, saaf pani etc doesn't stay in Lahore only.

Investment will come once foreigners feel save in Pakistan. Just compare 2008-2013 to now and you will see security have improved but to change image and perception take much more once tarnished.

i dont know what ppp did in sindh for people when they were in gov for five years in center and still in province.
did not they spend any thing beyond Karachi or their pockets?

 

[PakSword]

I gave you the source of a newspaper about returns of loans.
And i told you about the increase of loan in last three and half years by the most reliable international source trading economics. You do know that neither you and I have the information of everything happening in Pakistan.





50691 in 2002 and 72978 in 2016. Surely there must have been some loan taken in 11 years starting from 2002 to 2013.

You quoted international source and I quoted the source from ministry of finance..

Also, 50,691 is the AVERAGE from 2002 onwards, so please!

 

[LeGenD]

We shouldn't be taking it in first place coz the amount of resources we have . Plus the loan is re invested outside the countries to buy properties.

You are wrong, my friend.

Loans cannot be misappropriated like that. Also, what do you expect when our industry is in decline and revenue generation targets are not being met?

 

[Dawood Ibrahim]

You are wrong, my friend.

Loans cannot be misappropriated like that. Also, what do you expect when we our industry is in decline and revenue generation targets are not being met?

Buddy the industry is decline not because of the loan but because of the load shedding is their coz the government didn't deliver on its promises. And do you think we can repay them if we are going down coz these money comes with conditions and as i said they re investment it in other countries properties and i know their buildings which has 1 million income per month. And last thing Interest is haram so don't be pleased...

 

[Musketeeer]

You quoted international source and I quoted the source from ministry of finance..

Also, 50,691 is the AVERAGE from 2002 onwards, so please!

It was 62 in 2013. give me any source which speaks otherwise. only one source?

 

[LeGenD]

Buddy the industry is decline not because of the loan but because of the load shedding is their coz the government didn't deliver on its promises.

I am not blaming loans for decline of Pakistani industry, LMAO.

Pakistani industry is in decline due to energy crises and competition with foreign brands.

My argument is that politicians cannot misuse loans for personal gains. Do you think that IMF will let it happen? They give loans for investment in infrastructure and economy-related matters. Such investments are documented and reported.

And do you think we can repay them if we are going down coz these money comes with conditions and as i said they re investment it in other countries properties and i know their buildings which has 1 million income per month. And last thing Interest is haram so don't be pleased...

That depends upon the terms of conditions and repayment structure.

Suppose that you take a loan of PKR 2 lac from HBL; it is up to you if you consider a 3 year repayment plan or 5 years. However, condition is that you should be earning.

Pakistan does have some revenue generation capability but a chunk of it goes into repayments of loans.

I understand the haram part but what can we do about it? Until Pakistan becomes economically self-sufficient, this problem will continue.

 

[PakSword]

It was 62 in 2013. give me any source which speaks otherwise. only one source?

So what is now? 73? Right?

How much added (net effect)? 11? Right?

You said that 11 billion taken and 10.7 returned? Right?

Aur bhai jan, there is no harm if you read the source I have quoted, word by word.. Many thanks.

 

[Musketeeer]

So what is now? 73? Right?

How much added (net effect)? 11? Right?

You said that 11 billion taken and 10.7 returned? Right?

Aur bhai jan, there is no harm if you read the source I have quoted, word by word.. Many thanks.

Your point is valid. I did not notice the difference earlier. It could be possible that they have taken a lot more to increase the foreign reserves, but they made a increase in of 11 billion in foreign debts in last three years. That is a fact, or it is't?

 

[PakSword]

Your point is valid. I did not notice the difference earlier. It could be possible that they have taken a lot more to increase the foreign reserves, but they made a increase in of 11 billion in foreign debts in last three years. That is a fact, or it is't?

Well, according to your source it's a 11 billion USD increase from July 2013 to July 2016, and according to ministry of finance it's 13 billion increase from June 2013 to June 2016. It's a one month difference. Both could be right.

But it is important to note that approx. 40% borrowing wasn't spent on any development project, rather, it's spent on returning the previous loans. Also, the rest was also not spent on any revenue earning/ development project but on increasing the foreign currency reserves (although it is not mentioned anywhere, but we can safely assume due to significant import/ import balance, reduced remittances etc).

Also, some of the fresh loans have a grace period. So the impact of these loans will be visible after a couple of years when grace period will end.