IMF’s $2.4 billion included in budget despite lender’s approval

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Pakistan has not reached an agreement with the International Monetary Fund (IMF) but the government has included about $2.4 billion of IMF debt in the budget estimate.

According to the federal budget documents, a loan of Rs969 billion will be obtained from the IMF for budgeting. This amounts to $2.4 billion.

According to the budget documents, in the financial year 2022-23 ending, it was estimated to get Rs558 billion from the IMF for budgeting, but the amount received was Rs172.84 billion.

In the new fiscal year, the government is expected to receive Rs145 billion from the Islamic Development Bank.

Similarly, Saudi Arabia will keep an amount equivalent to Rs870 billion as time deposit in Pakistan’s banks.

The auction of Euro bonds will fetch Pakistan Rs435 billion.

Pakistan is expected to get oil facilities worth Rs29.5 billion from ECO countries.

Despite taking a loan from the IMF, Pakistan’s expenses will not be met, so the government will get a loan equivalent to Rs1305 billion from commercial banks.

In addition to this, loans and grants for various projects of the Public Sector Development Program are in addition.