KP loans cross Rs809bn in six months of fiscal year
Pakistan
KP loans exceed Rs809bn in six months for 102 projects; Rs25.56bn repaid in debt and interest, with major funding from World Bank and Asian Development Bank.
PESHAWAR (Web Desk) - Khyber Pakhtunkhwa’s provincial government has borrowed over Rs 809 billion in the first six months of the current fiscal year, according to official documents from the Finance Department.
The documents reveal that the provincial administration obtained loans for a total of 102 development projects, pushing the overall borrowing beyond the Rs 809 billion mark.
The World Bank emerged as the largest lender, providing Rs 352.5 billion for 46 projects.
Similarly, the Asian Development Bank extended loans worth Rs 351.8 billion for 44 development projects across the province.
The records further indicate that between July and December, the provincial government disbursed Rs 25.56 billion toward repayment of loans and interest.
Out of this, Rs 15.81 billion was used to settle principal amounts, while Rs 9.75 billion was paid in interest.
Commenting on the borrowing, KP Finance Advisor Mazammil Aslam said that the budget had initially estimated Rs 180 billion in borrowing.
He clarified that these loans pertain to previously signed agreements and are intended for ongoing development projects in the province.
