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Meanwhile, the business leaders of Pakistan have warned that the country is heading toward social unrest and fear that it is becoming unsafe for foreign investment due to back-to-back government policies that seek to discourage investors, according to Dawn. However, major financing would require the revival of the IMF programme, which would not only release around two billion dollars for Pakistan but it would also pave the way for getting loans from other multilateral and bilateral sources.

Therefore, the government has planned to borrow massively in the current fiscal year. The government would have to repay the previous loan of USD 21 billion and the current account deficit has been projected at USD 12 billion and USD 8 billion more for increasing foreign exchange reserves to USD18 billion in the upcoming financial year. The current government is still struggling to arrange dollars and it also needs external financing of USD 41 billion in the next fiscal year, reported The Nation. After the revision, the external resources of PKR 5.503 trillion projected for 2022-23 are greater by more than 200 per cent than the initial PKR 2.7 trillion budgeted for 2021-22. This new borrowing will be 74 per cent higher than the previous estimates of the government. The volume of the projected international borrowing has now increased to PKR 5.5 trillion after incorporating funding from aforesaid sources. However, the budget didn't include the financing from the International Monetary Fund (IMF), Saudi Arabia and SAFE China deposit, Pakistani newspaper The Nation. Earlier, in the annual budget for 2022-23, the Pakistan government had projected that they will borrow only PKR 3.17 trillion from international sources.

Islamabad, July 10 (ANI): Pakistan would borrow Pakistani Rupees (PKR) 5.5 trillion from international lenders in the current fiscal year to maintain their foreign exchange reserves, repay the previous loans and finance of current account deficit.