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October 11, 2018
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PM Imran Khan seeks detailed report on past 10 years foreign loans, its spending

ISLAMABAD: Prime Minister Imran Khan has expressed concerns over alarming rise in Pakistan's foreign debts, saying that the country's debt burden has increased from Rs6000 billion to Rs30,000 billion during the last ten years.

PM Imran Khan was chairing cabinet meeting here at the PM Office on Thursday. "Pakistan has to obtain more loans to pay back installments of the previous loans," Khan said.

The Prime Minister directed the Finance Ministry to submit a detailed report where the money came through loans was spent during the past 10 years.

Imran Khan said, "the government and the people of Pakistan have the right to know where these huge amounts were spent and were these beneficial for the country."

“Where was the money spent, on which projects? Did we build a dam? We need to know as we have to borrow more loan to return the installments,” Prime Minister Imran Khan said.

He asked the Finance Ministry to submit its detailed analysis to the Federal Cabinet and said it would also help create a better understanding about the loans and their impact on national economy.

Referring to the launch of his ambitious Naya Pakistan Housing Program, the Prime Minister said the entire administrative structure for the project would be completed on priority and it would not only generate economic activity, but also add new entrepreneurs, increase skills of the workers and create employment.

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