Pakistan took a loan of $ 200 million in the month of May. Out of this, the Imran government has taken a loan of $ 100 million from China alone.
Pakistan took a loan of $ 100 million from China.
Pakistan is up to its nose in debt. Despite this, the Imran Khan government is constantly engaged in the jugaad of taking loans to run the country. It has been learned that Pakistan has ensured to take a loan of $ 100 million from its friend China in the month of May. According to Pakistani media ‘The News’, during the first 11 months (July-May) of the current financial year 2020-21, China has given a loan of $ 121.3 million to Pakistan. (Pakistan Prime Minister Imran Khan secured 100 crore dollar loan from China in May)
The government has got all this foreign currency only in the form of loans. According to Pakistani media, Islamabad has received more foreign funding this time than in the last budget. In the 2019-20 financial year, during July to May, a loan of $ 10600 million was received in the form of foreign debt.
$ 200 million loan taken in a month
During the first 10 months (July-April) this year, $ 10195 million was received. But in the month of May, foreign funding increased by $ 200 million. Of these, $ 100 million has been received under bilateral partnership. It is believed that China has given this loan for the development of infrastructure. Top government sources said that some payments have been made under the guarantee loan.
Borrowed other than China
Pakistan has not only borrowed money from China but also from other places. Pakistan has taken a loan of $337 million from the World Bank, Asian Development Bank, Islamic Development Bank, Asian Infrastructure Investment Bank and others. According to the information, this time bilateral payments have increased by $ 153 million in the first 11 months as compared to last year.
Debt accounts for 82 percent of the annual budget
For the financial year 2019-20, the government had received foreign funds of $ 10662 million. The debt accounted for 82 percent of the entire annual budget of $12958 million. This condition is when the Rome and Rome of Pakistan is in debt. According to an estimate, each Pakistani has an average debt of Rs 1.76 lakh. By the year 2020, Pakistan had a debt of about 45 lakh crore rupees. Many countries and global institutions are pressurizing Pakistan to repay the loan. However, China, which has nefarious intentions towards India, is continuously providing money to Pakistan. According to the Pakistani media, Prime Minister Imran Khan has contributed more than 46 percent of the debt that Pakistan has so far.
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