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Pakistan: Punjab govt to spend Rs 2.3 billion on new automobiles

Islamabad [Pakistan], July 23 (ANI): Amid the worsening state of affairs of the economic system in Pakistan, the cash-strapped nation’s Punjab caretaker authorities launched a whopping Pakistani Rupee (Rs) 2.3 billion to buy new automobiles for its officers, The News International reported.

At a time when the entire nation is struggling to fulfill the International Monetary Fund’s calls for, the finance division issued a notification sanctioning Rs 2.3 billion for the acquisition of latest luxurious automobiles.

According to the notification issued on July 20, the assistant commissioner of every tehsil will likely be supplied with a brand new double cabin 4×4 Revo-G M/T, further deputy commissioners (common) of every district will likely be offered new Yaris ATIV 1.3L whereas further commissioners of every division will likely be offered Corolla 1.6 Altis CVT.

The notification mentioned that the vehicles- presently utilized by the assistant commissioners – shall be allotted to tehsildars.

Meanwhile, Pakistan’s exterior debt servicing obligations are USD 2.44 billion for the present month of July 2023, together with USD 2.07 billion in non-guaranteed debt owed to China, in line with The News International.

Another USD 1 billion protected deposit from China can be due, so Pakistan and China are at the moment engaged on the rollover of round USD 3 billion bilateral debt inside the ongoing month.

According to official info made accessible to The News International, Pakistan should pay again the Kingdom of Saudi Arabia USD 195 million for the present month. According to The News International, Pakistan is required to repay China round USD 363 million in assured bilateral loans, together with principal and markup funds.

Pakistan has to repay exterior debt servicing to France to the tune of USD 2.85 million and Japan to USD 4.57 million.

In a assured bilateral loans class, Pakistan must repay China to the tune of USD 402 million as principal and mark up within the ongoing month, The News International reported.

As dedication charges, Pakistan has to pay a penalty of USD 4 million inside the ongoing month of fiscal 12 months 2023-24. So whole bilateral fee due inside July 2023 stands at USD 513.32 million through the present month. (ANI)