The national treasury was filled with IMF loans
Karachi: Federal Finance Minister Ishaq Dar Wednesday at the highest level of foreign exchange reserves reached US $ 18.50 billion congratulated the nation.
But people celebrate before foreign exchange reserves fact that should be the IMF 2 bailout package after even reached them, mostly in amounts of debt that the future interest including the need to return.
The fact that the acquisition of foreign exchange by the deteriorating state of the economy and this is reflected in our exports.
That year, the first 11 months of 1 billion 22 crore 25 lakh 98 thousand dollar is the currency of making the most efficient means exports are happening at the same time foreign exchange earning the second-largest effective means investment of 1 billion 21 million 52 million dollars falls. However, foreign exchange reserves and strong support from the overseas Pakistanis remittances received in the time period over 2 billion 29 crore 43 lakh 80 thousand dollars remained. But in this period, the foreign exchange reserves increased from $ 14 billion 14 million 11 million 17 million 21 million to $ 1 billion reached. And now at the level of 18 billion to 50 billion dollars, although it has served the Pakistan foreign financing.
Despite the poor performance of the economy, foreign exchange reserves increased by nearly half 4 billion Dollars obviously nuazyun IMF and external donors is the result of karma.We must take back the money with interest, but the biggest thing for Pakistan to meet the country $ 1.5 billion was spent on the projects. Finance Minister Ishaq Dar had stated in March 2014 that the money was a gift to the people of Pakistan is the country. But the amount which the project is being run, the IMF in September 2013 for Pakistan to $ 6.7 billion aid program, 16 had passed. And US $ 54 million had been released immediately.
The IMF from time to time be given different episodes in the foreign exchange reserves of the country, however, kept a half billion dollars were announced in the Pakistan Development Fund and where the projects have retained How was spent. Dar this time because the amount of energy, infrastructure, railways, communications and transportation sectors, including spending on development projects was announced. The most important project in Sindh and other parts of the country via the motorway linking the project was declared. But the work does not seem to have been inaugurated, it should be clear and transparent about dealings, the Chinese, Korean, German investment project funded keep coming up so it must be told. What are PDF-funded project that the government was spending transparency.