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Pakistan has to borrow to avoid balance of payments crisis: Dar

Discussion in 'South Asia & SAARC' started by layman, Jun 22, 2013.

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  1. layman

    layman Aurignacian STAR MEMBER

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    ISLAMABAD: Federal Minister for Finance & Revenue, Ishaq Dar, Saturday said in order to avoid a balance of payments crisis, Pakistan would have to apply for another loan, Geo News reported.

    “The borrowing is inevitable as Pakistan has to service at least $3 billion worth of foreign debtsâ€￾, said he replying to a question on the floor of house.

    He, however, added that Pakistan Muslim League-Nawaz (PML-N) government would not borrow on terms that run counter to the national interest.

    “Regardless of whoever signed up for the loan, we will have to repay what we borrowed, it’s a matter of Pakistan’s international reputationâ€￾, said Dar.

    Dar told the House that Pakistan borrowed $8.5 billion during the last five years.

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  2. Manmohan Yadav

    Manmohan Yadav Brigadier STAR MEMBER

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    i thought it was 10.5 Billion USD

    anyways it will be soon
     
  3. layman

    layman Aurignacian STAR MEMBER

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    And it has become inevitable, wondering at the audacity of their military aspirations...

    When the whole world is on sequestration, these are only guys who will borrow and spend for military.
     
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