ISLAMABAD - The government of Pakistan has obtained foreign loans of worth $14,554.50 million during the last five years while a total amount of $10,629.68 million were paid back as foreign debts during the same period, the Senate was informed on Thursday.

Finance Minister Senator Ishaq Dar in his written reply informed the Upper House of the Parliament that the total amount of foreign loans (pubic and publicly guaranteed) obtained by the government from fiscal years 2008-2009 to 2012-2013 stood at $14,554.50 million. The amount of foreign loans paid back by the government during the said period was $10,629.68 million, he added. The house was also informed that the increase in the public and publicly guaranteed outstanding loans from fiscal years 2008-09 to 2012-13 was 8.73 per cent.

While giving the break-up, the finance minister said that the foreign loans having a total amount of $9,655.89 million were obtained from international financial institutions from fiscal years 2008-09 to 2012-13 while $4,898.61 million were got from foreign countries including China, France, Germany, Italy, Japan, Korea, Kuwait, Saudi Arabia during the same period.

The Minister for Finance also told the Senate in another written reply that Pakistan received total $657.24 million as foreign aid from foreign countries for the flood-affected people during the last three years (July 1, 2010 to June 30, 2013). This does not include the amount spent by humanitarian organizations and UN, he said.

Ishaq Dar replying a question said that Pakistan had to suffer a loss of an estimated amount of $17.82 billion in the war on terror during the fiscal year 2010-11. He said that the estimate for the remaining period July 2011 to December 31, 2012 is yet to be finalized and a committee has been constituted that is working to finalize the estimate in an effort to update the cost of war on terror.

The house was informed about the complete details regarding the Coalition Support Fund (CSF) that US had disbursed to Pakistan as aid in connection with the war on terror. According to the break-up, US disbursed $3032.5 million as CSF during the fiscal year 2011-12, $2618.3 million during 2010-11, $3666.7 million during 2009-10, $4688.1 million during 2008-09 and $3659.3 million during fiscal year 2007-08.

Similarly, $3381.3 million were disbursed for fiscal year 2006-07, $3358.5 million for 2005-06, $2721.8 million for 2004-05, $1380.9 million for 2003-04 and $1921.3 million for fiscal year 2002-03.

Chairman Senate Syed Nayyer Hussain Bokhari observed that the federal government should also include the amount of CSF into the annual budget and it should be a part of the annual financial bill.