Islamabad July 6 2022: Economic Coordination Committee approved supplementary grant in favor of Economic Affairs Division amounting to Rs. 193.006 Billion or equivalent to USD 932 million at yesterday dollars rate for foreign loan repayments.
As per SBP, Pakistan has to repay an amount of USD 19.9 billion in debt servicing during the year 2022 (from January to December). Pakistan Central Bank foreign exchange reserves drop by USD 5.8 billion since June 2021 to USD 10.3 billion as of 24th June 2022.
During the first three quarters of fiscal year 2022, which runs from July to June, Pakistan has repaid USD 8,827 million in principal repayments and USD 2,059 million in interest account. In fiscal year 2021, Pakistan repaid total debt of USD 13,424 million out of which USD 11,195 million is for principal repayment.
Federal Minister for Finance and Revenue Mr. Miftah Ismail presided over the meeting of the Economic Coordination Committee (ECC) of the Cabinet at Finance Division yesterday. Federal Minister for Planning, Development and Special Initiatives Mr. Ahsan Iqbal, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Power Mr. Khurram Dastgir Khan, Minister of State for Petroleum Division Mr. Musadik Masood Malik, Federal Secretaries and senior officers attended the meeting.
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