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PM directs Finance Ministry to submit details of loans taken in last 10 years

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ISLAMABAD : Prime Minister Imran Khan on Thursday directed the Ministry of Finance to submit details of loans taken in the last 10 years.

The premier chaired a meeting of the federal cabinet during which important decisions pertaining to the country’s economic situation and the bailout package from International Monetary Fund (IMF) discussed.

Addressing the cabinet members, the premier said, “We need to take more loans to pay off our previous loans.”

“In the last 10 years, Pakistan’s debt soared from Rs6,000 billion to Rs30,000 billion,” he further said while adding that he has sought details of previous loans from the Ministry of Finance.

“The ministry should inform us regarding where the money from the loans was spent,” PM Imran said. “The Orange Line Train project is in debt and we will have to borrow for it.”

Prime Minister (PM) Imran Khan hasy expressed confidence that Naya Pakistan Housing Authority project would bring about significant improvement in the economy of the country.

PM said the project would be undertaken through one window operation.

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