Islamabad: The Ministry of Finance has released the details of the loans acquired by the caretaker government, shedding light on both local and external debt transactions during their tenure.
According to the statement issued by the Ministry of Finance, the caretaker government took a local loan amounting to 19,830 billion rupees. In comparison, the preceding administration had borrowed 19,862 billion rupees.
Notably, during the caretaker period, a sum of 17,934 billion rupees of local loans was repaid, while the previous government had settled 14,031 billion rupees in loans.
According to the Ministry of Finance, the net flow of local loans during the caretaker period was recorded at Rs. 1,796 billion. In the previous term, a net flow of Rs. 5,831 billion was recorded, representing a significant decline from the 5831 billion rupees recorded in the government period. This marked a notable 67 percent reduction in loans compared to the previous period.
The caretaker government maintained a policy rate of 22 percent, inheriting it from the previous administration, which operated with an average policy rate of 19.5 percent.
In an effort to streamline the local debt profile, the caretaker government increased the volume of treasury bills to 1.6 trillion rupees, a considerable decrease from the 3.3 trillion rupees observed in the previous term. This reduction in volume helped alleviate the government’s financial requirements.
Additionally, the Ministry of Finance disclosed that the caretaker government acquired an external debt of 3.9 billion dollars, significantly lower than the 8.4 billion dollars obtained in the previous period. Moreover, they successfully repaid an external debt totaling 3.6 billion dollars, contrasting with the 5.4 billion dollars repaid by the previous administration.
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