Pakistan has been able to secure $6.306 billion during July-January period of period against a total of $17.61 billion to be received during entire fiscal year 2023-24.

ISLAMABAD, Feb 24 (SABAH): Pakistan has been able to secure $6.306 billion during July-January period of period against a total of $17.61 billion to be received during entire fiscal year 2023-24. 

  According to Fiscal Operations Report 2023-24, for July January seven-month period of this fiscal year, Pakistan has not been able to launch $1.5 billion Euro Bond in International Financial Market, International Commercial Banks have not disbursed any loan out of a total of $4.5 billion in this fiscal year. Similarly, $2.4 billion is still due against International Monetary Fund (IMF), the report added.

Saudi Arabia has emerged at front line state with disbursement of $2 billion for Time Safe Deposits to enhance foreign exchange reserves, $600 million worth POL products under Saudi Oil Facility, and 59.05 million as aid to Pakistan during the first seven months of this fiscal year 2024-24. According to the details, out of a total of $2.329 billion due from World Bank, Pakistan has received only $1.184 billion in first seven months of this fiscal year. 

Asian Development Bank is to disburse $2.08 billion to Pakistan during this fiscal year and Pakistan has received $620 million from this bank during first seven months.      Islamic Development Bank (IsDB) has to disburse to Pakistan 500million loan and Pakistan has received only $200 million from the Bank during this fiscal year. 

  Asian Infrastructure and Investment Bank (AIIB) has disbursed entire 299 million to Pakistan during the first seven months to Pakistan. International Fund for Agriculture Development (IFAD) has provided Pakistan 23.1 million, similarly, OPEC Fund has provided Pakistan 27.1 million as aid.

 Saudi Arabia has provided Pakistan $600 million to Pakistan under Saudi Oil Facility, China $42.1 million, France $36.4 million, Germany $18.9 million, South Korea $12.3 million, Saudi Arabia $59 million and United States 25.6 million as aid to Pakistan during the seven months of this fiscal year 2023-24, the report added.

International financial institutions were required to provide Pakistan $5.336 billion and during the first seven months Pakistan has received only $2.488 billion in first seven months of ongoing fiscal year.

        Friendly countries are required to provide Pakistan $882.5 million as aid and loans and during first seven months of this fiscal year Pakistan has received only784.6 million during the first seven months. 

Al-together from financial institutions as well as friendly countries Pakistan is expected to receive $6.219 billion and during seven months Pakistan has received $3.323 billion. 

Overseas Pakistanis have invested $595 million in Naya Pakistan certificates during July-January period of this fiscal year 2023-24.