Rs 819.6 billion foreign aid estimated for FY17


 

 

 

 

 

 

 

The government has estimated foreign assistance of Rs 819.6 billion for 2016-17, including grants and loans against Rs 775.26 billion budgeted for the current fiscal year which was later revised upward to Rs 859.688 – the rise attributable to loans from commercial banks.

The external resources for 2016-17 have been projected at Rs 819.6 billion which is lower by 5 percent than the revised estimates of 2015-16 but 6 percent higher than the budget estimates of 2015-16.

The government has estimated budget assistance of Rs 60.378 billion from China for 2016-17 against Rs 85.934 billion estimated for 2015-16 which was later revised to Rs 144.454 billion. The government has budgeted Rs 211.52 billion from commercial banks for 2016-17. Under the head of loans Rs 796.78 billion has estimated for 2016-17 against the budgeted estimates of Rs 750.14 billion for the current fiscal year which was later revised to Rs 821.42 billion. The government has budgeted Rs 22.81 billion under the head of grants for next fiscal year against Rs 25.11 billion budgeted for 2015-16 which was later revised upward to Rs 38.24 billion.

From Sovereign Bonds, the government has estimated Rs 105.5 billion for 2016-17 against Rs 101.25 billion for the current year, however later it was revised to Rs 52.2 billion. Under the head of Kerry Lugar no amount has been budgeted for next financial year, no amount was budgeted for the current financial year, however inexplicably it was revised to Rs 304 million.

From Sukuk Bond, the government has estimated Rs 79.125 billion for 2016-17 while no amount was budgeted for 2015-16. From Islamic Development Bank the government has budgeted Rs 49.67 billion for next fiscal year against Rs 127.45 billion for the current fiscal year which was later revised to Rs 114.67 billion. The government has budgeted estimates of Rs 110.585 billion from the Asian Development Bank (ADB) for 2016-17 against Rs 103.31 billion for the current financial year which was later revised to Rs 133.95 billion, no amount has been budgeted from China Safe Deposits for 2016-17, however Rs 101.25 billion was budgeted for the current financial year which was later revised to zero, Rs 154.93 billion budgeted for next fiscal year from the IDA against Rs 175.57 billion for 2015-16, later revised to Rs 179.52 billion.

Under the head of project loans Rs 207.94 billion has estimated for 2016-17 against Rs 208.275 billion for 2015-16 which was later revised to Rs 284.84 billion. For program loans Rs 577.63 billion has been estimated for next financial year against Rs 519.25 billion estimated for the current fiscal year which was later revised to Rs 514.93 billion, while Rs 21.42 billion has been budgeted for project grants for 2016-17 against Rs 23.97 billion estimated for 2015-16 which was revised to Rs 22.93 billion. -Business Recorder

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