After signing a new loan agreement with the International Monetary Fund (IMF), the doors to external financing have opened for Pakistan. In the first two months of the current financial year, Pakistan received more than $5 billion in external funding.
The report on external loans and funding from July to August of the current financial year has been issued.
According to the report of the Economic Affairs division, Pakistan received $5.31 billion in the first two months of the current financial year from external sources.
In the same period last fiscal year, $439 million in funding had been received.
In August 2023, $316 million and in July $2.89 billion had been received, according to the report.
These funds were in addition to the $1.2 billion received from the IMF, the report said, adding that $2 billion were received from Saudi Arabia and $506 million from Aero Technology Corporation of China.
The amount received as mutual loans from various countries is $221 million, said the Economic Affairs Division report, adding that $336 million dollars were received from international organizations and $141 million from Naya Pakistan certificate.
This year's budget estimates that $17.62 billion will be received under external funding. In the first two months of the financial year, $2 billion were received from Saudi Arabia in the form of safe deposits.
Oil worth $200 million was also received on loan basis, the report states. During the current fiscal year, $12 million were also received from the UAE, a loan of $178 million from the World Bank, $870 million as loan from the Islamic Development Bank and $390 million loan from the Asian Development Bank, as per the report.
