Federal govt seeks details of KP’s domestic, foreign loans

Govt borrowed more than Rs300bn from ADB, other international financial institutions since 2013

PESHAWAR: The federal government has asked the Khyber Pakhtunkhwa (KP) government for details of interest paid on external and internal loans as well as repayment details during the current financial year (FY22).

In a letter sent to the KP Finance by Department the Economic Affairs Division on Sunday in this regard, the provincial government asked for details of the loans provided by the federal government and international aid agencies through the government.

Sources said that the central government is also seeking details of grants provided to the province by foreign aid agencies during the ongoing and any that are due next year.

They said the Pakistan Tehreek-e-Insaf (PTI) government has borrowed more than Rs300 billion from the Asian Development Bank (ADB) and other international financial institutions for development projects in various sectors since 2013.

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“Before the PTI government, the external debt of the province was Rs33 billion in 2013,” they said.

The KP government has obtained most of its loans for mass transit projects such as the Bus Rapid Transit (BRT) in Peshawar and for the provision of various services in rural areas, including the local government department’s plan, electricity and other projects.

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