Country received only $999m from foreign commercial banks as against budgeted estimates of $4.5b.
ISLAMABAD - Pakistan has not received sufficient inflows from the international community despite completion of the International Monetary Fund (IMF) standby-programme in the last fiscal year.
The country has received only 78 percent of the annual budgeted amount in the year 2023-24. Pakistan has received $13.804 billion during the fiscal year 2023-24 against the target of $17.619 billion for the entire fiscal year of 2023-24, according to the data of Ministry of Economic Affairs. The government has not received budgeted amount despite the fact that the country was in the IMF programme.
The break-up showed that Pakistan had received $3 billion from the IMF under the Stand-By Arrangement (SBA) for the fiscal year 2023-24. The country had also received one billion dollars from the United Arab Emirates and two billion dollars from the Saudi Arabia in the previous fiscal year. According to the data, the country received only $999 million from the foreign commercial banks as against the budgeted estimates of $4.5 billion.
The country received $1.104 billion under the head of the Naya Pakistan Certificate. The country received $4.279 billion from multilaterals and $919.43 million from bilateral during 2023-24. The non-project aid was $6.777 billion including $5.583 billion for budgetary support and project aid was $3.033 billion. China disbursed $508.34 million under the head guaranteed for the JF-17 B project funded by China National Aero-technology Import and Export Corporation (CATIC). China had also given $69.14 million against the government budgeted of $18.54 million for the fiscal year 2023-24.
The Asian Development Bank (ADB) had provided $1.327 billion during the period under review compared to the budgeted $2.086 billion for the fiscal year 2023-24. Saudi Arabia had given $595.18 million against the budgeted $600 million under the head of oil facility during 2023-24. Saudi Arabia disbursed another $66.29 million in fiscal year 2023-24. The USA had released $40.18 million against the budgeted $21.60 million for the fiscal year 2023-24. Korea disbursed $35.64 million and France $49.57 million during the fiscal year 2023-24.
The IDA had provided $1.922 billion against the budgeted $1.489 billion for the fiscal year 2023-24 and IBRD $295.87 million against the budgeted $840.36 million. The IsDB (short-term) disbursed $250 million against the budgeted $500 million for the fiscal year 2023-24 and AIIB disbursed $344.99 million, while IFAD disbursed $42.43 million against the budgeted $42.68 million for the fiscal year 2023-24.