Jhagra clarifies news on KP govt loans

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Provincial Finance Minister, Taimur Saleem Jhagra on Monday while clarifying a news item regarding hefty loans acquired by the provincial government said the loans were taken on a long-term basis with easy conditions. He said loans from international development organizations, Asian Development Bank, and World Bank were acquired on much easier terms and have to be paid by 2040. He said the KP government was timely paying installments of the long and short terms loans.

This year, he said the provincial government has to pay Rs 10 billion on account of loans which amounted to only 2 percent of the provincial budget. On the other hand, he said the revenue of the Khyber Pakhtunkhwa government had increased by 30 percent. He said the ratio of debt retirement was gradually increasing due to better financial policies of the provincial government.—APP

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