PM Imran Khan seeks detailed analysis on foreign loans, spending

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Prime Minister Imran Khan has expressed concerns over the 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 instalments 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 instalments,” 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 of the loans and their impact on the national economy