Foreign loan shows growth of $12b

Pakistan

Foreign loan shows growth of $12b

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Foreign loan recorded a growth of $12 billion during the present governments period.

08 July,2011 07:44 pm

The National Assembly Standing Committee on Economic Affairs’ meeting was held under the chair of Malik Azmat. Secretary Economic Affairs Abdul Wajid Rana said Pakistan’s foreign loan stood at $52 billion with an increase of $12 billion including $7.4 billion borrowed from IMF during the present government’s periods. The volume of local loan has also surged by more than $6 billion during the last three years, he added. The secretary informed the meeting that he had no exact figure of the amount, which had been borrowed since 1947. However, the country owed $76 billion foreign loan.