KP sees increase in foreign loans during PTI rule

PESHAWAR: The Pakistan Tehreek-e-Insaf (PTI) government in Khyber Pakhtunkhwa (KP) has signed agreements worth Rs1,000 billion with international organizations and Development organizations in more than nine years of governance in the district.

The largest loan of Rs109.50b has been signed for the Bus Rapid Transit (BRT) system. According to the Ministry of Finance, the provincial government is not happy with receiving provincial rights from the federal government and because there is no local authority to manage the provincial government. , the PTI government depended on foreign loans. Because the number of foreign loans was greater than previous governments.

The former Minister of Finance and Health of Khyber Pakhtunkhwa Taimur Saleem Jhagra said that six months ago, the government of Pakistan Democratic Movement (PDM) tried to bankrupt the province, however, he said that they leave a financially stable district. Jhagra alleged that the province was more than 75% dependent on foreign loans when the PTI came to power in 2013. He said, “before the PTI came to power, the District debt is Rs100 billion which is 75% of the budget but today the district’s own resources are more than 70% but the debt to budget ratio is only 27% .

At present, the total external loan of the province is Rs1002.49 billion of which the provincial government has received Rs359.33 billion while the majority agreement of Rs606 billion has been reached with financial institutions. different funds for different jobs. For Peshawar BRT, a total of Rs109.50 billion will be borrowed of which the Asian Development Bank (ADB) is providing Rs76.99bn while the French Development Agency is providing Rs32.50 billion.

The highest loan of Rs135.92 billion has been borrowed for the transport department, while Rs60.87 billion for various economic development, Rs10.37 billion for education, Rs29.88 billion for health, Rs272 million for industry, Rs19.4 million for water, Rs36.61 billion for power and energy, Rs3.51 billion for environment, Rs20.50 billion for regional development, Rs4.17bn for social welfare, Rs64mn for urban and rural, Rs5.43bn for tourism, Rs985 lmn for canals. , Rs14.38 billion for agriculture, Rs13.60 billion for finance ministry, Rs3.66bn for health and Rs12nbn for forests.

Similarly, Rs67.60 billion has been borrowed for development projects in six cities of KP, Rs11.20bn for Pehore High Level Canal, Rs888 million for Peshawar BRT, Rs23.72 billion for access to energy from ADB, Rs5.39 billion for the rehabilitation of provincial roads, Rs6.74 billion for the Mardan Swabi dual carriageway, Rs317 million for the rehabilitation and development of towns, another Rs12.18 billion will be borrowed from the French Development Agency for the Peshawar BRT, Rs55.70 billion from the International Development Association for KP Rural Support Project, Rs9.44 billion for the National Health Support Project, and Rs8.71bn for increasing sources of income in Khyber Pakhtunkhwa.

Similarly, Rs7.58 billion has been borrowed for tourism projects under the Integrated Tourism Development Project, Rs20.86bn for KP Irrigated Agriculture Improvement, Rs45.13bn for better development, Rs85.43bn for Khyber Pass Economic Corridor, Rs46.20bn for energy projects. , Rs24.95bn for KP Human Capital Investment Project, Rs36.98bn from International Bank for Settlement and Development for energy project in KP, Rs33.32bn from Asian Infrastructure Investment Bank for development projects in six cities and Rs46.50bn for Balakot Hydropower Development.

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