ISLAMABAD, Pakistan: The Zarai Taraqiati Bank Limited (ZTBL) has waived off loans amounting to Rs 11659.966 million during the last 10 years, the Senate was told on Friday.
To a question by the Senator Muhammad Usman Khan Kakar, the Minister for Finance and Revenue apprised the House in written that loans of 203,355 farmers have been written off by the ZTBL during the said period.
The amount of loans waived off by ZTBL during last 10 years with year wise break up;
In reply to another question by the Senate, the minister told that House that Pakistan received approximately US$ 988 million (SDR 716 million) as loan from the International Monetary Fund (IMF) during the year 2019.
The minister told that the IMF program is conditional to attainment of a set of policy measures mutually agreed between the government and the IMF. He added that these measures aim to stabilize country’s economy and lay the foundation for sustained and inclusive growth, and include a market determined exchange rate, fiscal consolidation, electricity and gas tariff adjustments, circular debt reduction strategy, strengthening anti-money laundering and combating the financing of terrorism (AML/CFT) regime, and improving governance in state owned enterprises while ensuring social protection for the poorer sections of the society.
In addition, he told that the agreement with the IMF envisages increase in tax to GDP ratio incrementally over the program period.
