ISLAMABAD OCT 28 (TNS): Commenting on a news report in a section of media regarding utilization of project loans, the spokesman of the Ministry of Finance (EAD) said that the report does not portray facts as they actually exist.
To assume that commitments be disbursed immediately and otherwise to classify them as unspent amounts based on inefficiency is not appropriate rather misleading as the funds do not remain unutilized rather are to be employed during the commitment period i.e. from 2015 till 2020-2023.
The spokesman said at an average 25-33% disbursements are made annually depending upon implementation period of the portfolio. He added that as of September 2017, the World Bank has disbursed US$ 2.2. billion out of an allocation of US$ 5.4 billion and the portfolio disbursement stands at around 40%.
Similarly, the ADB has disbursed US$ 1.9 billion out of an allocation of US$ 5.8 billion and the portfolio disbursement stands at 32% and for China US$ 4 billion stands disbursed against an allocation of US$ 9 billion and the portfolio disbursements stand at 44%.
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Since development partners make performance based allocations (PBA) a trend showing enhanced commitments and allocations has been observed and future commitments are being enhanced significantly, the spokesman concluded
