Foreign borrowing drops by 33% during first quarter of FY-19
MG News | October 23, 2018 at 11:02 AM GMT+05:00
October 23, 2018 (MLN): Foreign borrowing by the government has dropped by 33% during July-September period as compared to the previous year.
Economic Affairs Division has revealed in an official press release that the government of Pakistan has borrowed a total of $1 billion from external avenues during the first quarter of current fiscal year (FY19), while borrowing in corresponding period of last year was recorded at $1.5 billion.
The government borrowed around $225 million in September 2018, alone.
As per the data released, the government has borrowed nearly $300 million from China while Commercial Banks have lent a sum of $240 million through the quarter.
On the other hand, borrowing from Asian Development bank (ADB) stands in at $107 million.
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