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Federal Govt Returns Rs22 Trillion Loan To SBP

KARACHI: Federal government on Thursday returned a massive loan of about Rs22 trillion to the State Bank of Pakistan (SBP).

International Monetary Fund (IMF) expressed its concern over the massive loans taken from the country’s central bank.

However, the payment made to SBP was facilitated by taking loans from commercial banks.

The federal government is running the day to day financial affairs of the country and returning older loans with the amount borrowed from the SBP.

A total amount of Rs39.5 trillion was borrowed from the central bank. The government has decided to return the loans immediately after the IMF’s pressure.

According to SBP, an amount of Rs 21.73 billion was returned during the second week of February.

The federal government, however, took another loan from commercial banks worth Rs21.10 billion.

After this installment was paid, a total amount of about Rs17 billion remained to be paid to SBP.