KP Govt Owes Rs193bn In Foreign Loans
The Khyber Pakhtunkhwa government owes around Rs193 billion in foreign loans.
The KP government revealed the figure in a bulletin which shared the details of the loans the provincial government had taken between June 30, 2018 to June 30, 2019. In the said period, the government had taken around Rs32.97 billion in loans, bringing the total amount of foreign loans to Rs193.68bn.
The provincial government has taken most of the loans from the United States, Germany and Japan.
According to the information disclosed, around 31 percent of the loans were obtained by the KP government for development of road infrastructure. Moreover, the government took Rs11 billion for the education sector, Rs18billion for irrigation, Rs3 billion for environment and Rs26million for industry.
Furthermore, the government took loans worth Rs3billion for agriculture, Rs21billion for rural development, Rs12.89 for energy and power, Rs4billion for planning and development, and Rs2,7billion for health.
Of the loans taken for infrastructural development, the major portion, around Rs70 billion, went to the Peshawar Bus Rapid Transit (BRT) project, which is still under construction.