Pakistan took foreign loan in two months

By: News Desk
Published: 09:56 PM, 23 Sep, 2022
Pakistan took foreign loan in two months
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Pakistan took foreign loan in two months of the financial year, 24NewsHD TV channel reported on Friday.

According to the document, a foreign loan of 252 million dollars was taken in August, 127.9 million dollars were borrowed from international financial institutions, and 124.3 million dollars were borrowed from foreign states in the last month.

The  Ministry of Finance has estimated to borrow more than 22 billion dollars this year.

In a statement, Finance Minister Miftah Ismail said friendly countries assured to re-roll the loan payments for Pakistan.

He said Pakistan is facing problems due to climate change and given the climate-induced disaster in Pakistan, we are seeking debt relief from bilateral Paris Club creditors.

The minister said the country is intending to have debt relief from bilateral creditors in the wake of ravaging floods in the country. However, he clarified that the government will not seek any relief from commercial banks or Eurobond creditors.

Waqas Azeem