Pakistan economic crisis: Punjab govt to purchase worth ₹2.3 billion of new vehicles for its officials
₹2.3 billion for the purchase of new luxury vehicles. According to the notification issued on July 20, the assistant commissioner of each tehsil will be provided with a new double cabin 4x4 Revo-G M/T, additional deputy commissioners (general) of each district will be provided new Yaris ATIV 1.3L while additional commissioners of each division will be provided Corolla 1.6 Altis CVT.
The notification said that the vehicles — presently used by the assistant commissioners — shall be allocated to tehsildars. Meanwhile, Pakistan's external debt servicing obligations are $2.44 billion for the current month of July 2023, including $2.07 billion in non-guaranteed debt owed to China, the news report added.
Another $1 billion safe deposit from China is also due, so Pakistan and China are currently working on the rollover of around USD 3 billion bilateral debt within the ongoing month. According to The News International, Pakistan is required to repay China around $363 million in guaranteed bilateral loans, including principal and markup payments.
Pakistan has to repay external debt servicing to France to the tune of $2.85 million and Japan to $4.57 million. Pakistan has to repay the IMF to the tune of outstanding loans of $189.67 million including the principal amount of $165.02 million and markup of $24.65 million.
Pakistan has to repay outstanding loan repayment to the ADB to the tune of $56.9 million, the World Bank's International Development Association (IDA) repayment of $72.06 million, and the International Bank for Reconstruction and Development (IBRD) $8.82 million, and some minor repayments to International Fund for Agricultural Development (IFAD) and other donors. The total repayment to the multilateral creditors in
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