Pakistan receives Rs1,571 bn external inflows in 10 months

ISLAMABAD: Pakistan has so far obtained $10.19 billion (Rs1,571 billion) external inflows from all multilateral, bilateral creditors and through raising international bonds during the first 10 months (July-April) period of the current fiscal year 2020-21.

Out of $10.19 billion dollar inflows, Islamabad received a major chunk to the tune of $9.97 billion in the shape of foreign loans from all creditors and only fetched $222 million in the shape of grants in first 10 months of the current fiscal year.

The government had envisaged total external inflows of $12.233 billion for the whole financial year 2020-21, both in shape of loans and grants. Almost one third to the tune of $3.246 billion were obtained through expensive commercial borrowings so far in the current fiscal year. The commercial borrowing from banks is being used as bridge financing for meeting the overall external financing requirements.