ISLAMABAD – The government’s failure to issue $500 million bond dented the overall forex inflow by 18 per cent ($681) to $3032 million against budget-2011-12 estimates of $3713million.
According to the officials of the Economic Affairs Division, the total foreign economic assistance disbursement fell short of $681 million from the budget estimates for the year ending June 30, 2012.
However, the official said the disbursement of $1748 million from bilateral sources was higher by $463 million than that from multilateral sources and $395 million more than the budget estimates of $1353 million.
“Disbursement of $1248 million from multilateral sources was lower by$576 million than the budget Estimates of $1860 million,” the official said, adding that share of multilateral and bilateral sources was 42 per cent and 58 per cent of the total disbursements respectively.
The official further told that in the bilateral group major disbursement were from china $ 1,047 million Japan $227 million, UK $171 million, Saudi Arabia $‘132 million. And USA $119 million, they contributed about 97 per cent of total disbursement of the bilateral sources.
Multilateral agencies disbursing over$100 million were Asian Development Bank (AD), World Bank and Islamic Development Bank (IDB) and they contributed about 97 per cent of total disbursement of the multilateral source.
“The debt servicing during the fiscal year 20011-12 amounted to $2300 million including principal of $ 1534 million and $765milion,” said the official, adding that an amount of Rs 33,192 million was recovered from the provincial government, autonomous bodies and other organization on account of relent and guaranteed loans.