Towards the end of the year, the pace of borrowing by the federal government from banks accelerated. In one week, it borrowed Rs. 208 billion from commercial banks to cover its expenses. Debt reached close to one thousand billion rupees.
According to the SBP, the federal government borrowed a total of Rs 207.93 billion from commercial banks during the third week of December to meet budget expenditure. IMF during the financial year of construction concerns the New Central Bank loans continued repayment of old loans rather than take.
During the week, out of the new loans of commercial banks, the government repaid Rs. 62.21 billion to the central bank, while other expenses of Rs. 145.71 billion were met, due to less than the government ‘s revenue expenditure. so far, the commercial banks a total of Rs 999 billion, 84 million, 20 million of loans have been taken, of which 701 billion 15 crore 40 lakh central bank loans were repaid, the funds were the other daily expenses.
Extracted from City42 News
