PM seeks details of foreign loans taken in last ten years
ISLAMABAD: Prime Minister Imran Khan has directed the Ministry of Finance to furnish details of foreign loans taken as well as their spending in the last 10 years.
He issued these directions during the Federal Cabinet meeting in Islamabad.
PM Khan directed the Finance Ministry to submit a detailed analysis to know where the money was spent.
He 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.
We will need much more funds to return the entire loan. Instead of creating wealth, we will have to use our money to retire the debt,” he pointed.
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.