PM Asks the Finance Ministry to Give Details of Loans in Last 10 Years
On Thursday, the Prime Minister Imran Khan ordered the Ministry of Finance to submit details of the loans which were borrowed by Pakistan in the last 10 years.
The PM led a meeting of the federal cabinet and stated, “We need to obtain more loans to pay back installments of the previous loans.”
“In the last 10 years, Pakistan’s debt soared from Rs 6,000 billion to Rs 30,000 billion,” he further said.
“The ministry should inform us regarding where the money from the loans was spent and on which projects. The Orange Line Train project is in debt and we will have to borrow for it,” PM Imran said.
In Regards to his Naya Pakistan Housing Program, the PM expressed confidence that it is designed to bring about significant improvement in the economy, upon completion.
“The project would be undertaken through a one widow operation,” he added.
While addressing the media after the cabinet meeting, the Information Minister Fawad Chaudhry announced that the houses are set to be built on government land.