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pakistan
Thursday Oct 11 2018
By
Web Desk

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

By
Web Desk

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 and said, "We need to obtain more loans to pay back installments of the 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 and on which projects," PM Imran said. "The Orange Line Train project is in debt and we will have to borrow for it."

Regarding his Naya Pakistan Housing Programme, the premier expressed confidence that it would bring about significant improvement in the economy. "The project would be undertaken through a one widow operation," he added.

Addressing the media after the cabinet meeting, Information Minister Fawad Chaudhry announced that the houses will be built on government land.

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