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Summary
Ministry of Finance has revealed that $5.60 billion aid promised for Pakistan in Tokyo Donor Conference consists on $1.80 billion aid while the rest are tough conditioned loans. The ministry in a briefing told Standing Committee on Finance that time frame and modifications set for returning loans dont match with the promises made in Donor Conference. The ministry said that in announced amount of $5.60 billion, $1.21 billion is tough loan while $2.39 billion easy conditioned loan. The aid is only of $1.80 billion. Donors will give $800 million under budget support head while $4.042 billion will be spent as per donors desire. Those who gave tough loan on the name of aid are Iran, Saudi Arabia, UAE, Islamic Development and World Bank. Talking to Dunya News over the issue, CEO of Institute of Securities, Management and Research (ISMAR) said that Donor Conference has just given us project financing; it is out of the question to make up for the budget deficit with this nominal aid.
