Pakistan borrows $3.527bn in first quarter

Borrowing marks almost 60% increase from same period previous year

ISLAMABAD: Pakistan borrowed $3.527 billion from multiple financing sources during the first quarter (July-September) of the current fiscal year 2023-24 (FY24) compared to $2.234 billion borrowed during the same period of last fiscal year.

According to the Economic Affairs Division (EAD), Pakistan received $490.48 million from multilaterals and $324.05 million from bilateral funds during July-September 2023-24.

The non-project aid was $2.653 billion including $2.253 billion for budgetary support and project aid was $873.97 million.

China disbursed $508.34 million under the head guarantee for the JF-17 B project funded by China National Aero-Technology Import and Export Corporation (CATIC). China further disbursed $0.35 million in July-September against the government budgeted of $18.54 million for the current fiscal year.

Pakistan also received $204.51 million under the head of “Naya Pakistan Certificates” during the first three months of the current fiscal year 2023-24.

Asian Development Bank (ADB) also disbursed $61.75 million during the period, compared to the budgeted $2.086 billion for the fiscal year 2023-24.

Meanwhile, Pakistan has obtained $320.92 million in September 2023 compared to $625.86 million in September 2022.

The data further shows that the government had budgeted estimates of $4.5 billion from the foreign commercial banks for the current fiscal year 2023-24, however no money was received under this head during the first three months of the current fiscal year.

The government had budgeted $1.5 billion from issuance of bonds. However, the government is yet to issue the bonds, hence no amount has been received so far.

The government has budgeted $2.4 billion from the International Monetary Fund (IMF) for the current fiscal year 2023-24 and received $1.2 billion as the first tranche of the $3 billion Stand-By Arrangement (SBA) in July 2023.

There is also no mention of $1 billion disbursed by the UAE. If the IMF and UAE inflows are added, the total inflows would reach $5.727 billion during the first three months of the current fiscal year.

Data shows that the government has also received $2 billion out of the budgeted $3.527 billion from Saudi Arabia in July 2023.

The government has budgeted $17.619 billion from multiple financing sources for the current fiscal year including $17.384 billion loans and $234.60 million grants. From the current outlook, the government will have to pace up if it is to meet the budgeted targets.

Shahzad Paracha
Shahzad Paracha
The writer is a member of Pakistan Today's Islamabad bureau. He can be reached at [email protected]


  1. Most people out there find it hard to believe that you can recover back your stolen/lost funds … I was once among the non-believer’s because it never seemed to be true until it happened right before my eyes . I was once involved in this crypto currency investment platform called “Nexus trade” and lost over £516k within the first month I started the investment , I was curious and eager to know the whereabouts of my funds and that led to me working with a recovery company but it turned out they couldn’t do anything about it , at that point I lost every hope of getting my funds back but I took it upon myself not to give up either and I made contact with a private investigator to see through the matter also and that was when he referred me to a private hacking team that has successfully retrieved lost funds of most of his clients that had similar case just like me and to my greatest surprise he pulled off the Wong best Wizard thing on my case and traced back my funds to the scammers with just the little details I provided , I’m so so grateful to both the investigator and the hacking team for coming to my aid when I needed it the most 🙂 .. y’all that is still in doubt should give the team a chance to clear your doubt just like they did with me .. Contact email : wongbestwizard(@), They are Tested and trusted.


    Let us show you the art of Ethical Hacking….!

    EMERALD HACKS is a financial regulator, PRIVATE investigation and funds recovery body. We specialize in cases as regards ETHICAL HACKING, CRYPTOCURRENCY, FAKE INVESTMENT SCHEMES and RECOVERY SCAM. We are also experts in CREDIT REPAIR, we analyze what’s impacting your score.
    All software tools needed to execute RECOVERIES from start to finish are available in stock.
    Kindly NOTE that the available tools does NOT apply to CREDIT FIX.

    Be ALERT to FALSE reviews and testimonies on the internet, the authors and perpetrators unite to form a syndicate.

    Contact our team as soon as you can via the email address below to book a mail meeting with an ethical hacker.

    Stay Safe out there !


Please enter your comment!
Please enter your name here

Must Read

Pakistan, Turkiye agree to increase bilateral trade to $5bn

Dar highlights strong defense ties and mutual support in regional conflicts at joint press conference with Turkish FM