Friday, December 24, 2010

Country’s foreign debt at $53.7bn, NA told

ISLAMABAD: The National Assembly (NA) was informed on Thursday that the country was still under the burden of $53.7 billion foreign debt while the payment of $6.03 billion had already been made during the last three years.

The information was provided by Minister of State for Finance Hina Rabbani Khar to the House.

Replying to a question, Khar said the total loan comprises $44.8 billion of public and publicly guaranteed loans and $8.9 billion of International Monetary Fund (IMF). The country had paid $1.13 billion loan in 2007-08, $2.5 billion in 2008-09 and $2.3 billion in 2009-10 along with the interest worth $982.6 million, $872.9 million and $775.4 million, respectively.

She further said that from 114 tax defaulters of Rs 22.09 billion, the Federal Board of Revenue (FBR) had recovered Rs 11.79 billion. However, in 52 cases, the court had granted stay order and in these cases the default money was Rs 17.77 billion.

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