TAHIR AMIN

ISLAMABAD: The country provisionally received $4.28 billion .i.e. 46 percent of budget estimates of foreign assistance from multilateral and bilateral donors from July to January 2016, against $3.37 billion during the same period of last year.

The inflow was mainly because of loans taken from commercial banks as the government borrowed $956 million against the budget estimates of $200 million in the current financial year, as shown in the Economic Affairs Division (EAD) data.

According to the latest figures released by the EAD, the country provisionally received $95.8 million including $73.8 million loans and $21.9 million grants in the month of January against $61 million during the same period of last year.

The government has estimated foreign assistance of about $9.18 billion for 2015-16 including grants and loans which is higher by 12 percent than the revised estimates of 2014-15 and 23 percent higher than the budget estimates of 2014-15.

Asian Development Bank (ADB) disbursed $662.77 million in the current fiscal year including $34.7 million in January against the budgeted estimates of $1020.4 million. China is expected to be the largest single donor to Pakistan with a budgeted inflow of $3.05 billion. The country received no amount from China in the month of January; however it has disbursed a total of $561.37 million in the current financial year.

International Development Association (IDA) released $18.06 million in January bringing the total disbursement to $612.95 million.UK disbursed $0.243 million in January brining the total disbursement to $247.44 million in the current financial year.

USA disbursed $18.9 million, International Bank of Reconstruction and Development (IBRD) $4.159 million and IDB $5.89 million in the month of January, bringing the total disbursement to $99.6 million, $40.35 million and $55.65 million respectively. Kuwait has disbursed $37.28 million, Germany $29.45 million, and IDB (S-Term) $378.46 million in the current fiscal year.

The government has received no assistance from Australia, EU, Italy, Norway, UNDP and Organization of the Petroleum Exporting Countries (OPEC) during the period under review.

The amount does not include releases amounting to $4.98 billion from International Monetary Fund (IMF) under the September 4, 2013 approved $6.64 billion Extended Fund Facility (EFF).