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Finance Ministry took $3 billion debt without cabinet approval, reveals sources

Finance Ministry took $3 billion debt without cabinet approval, reveals sources
March 31, 2021

ISLAMABAD (92 News) - The sources has revealed that the Ministry of Finance took a loan of $3 billion without the approval of the cabinet.

According to the sources, these debts were borrowed from the financial institutions of Swiss banks, United Arab Emirates (UAE) and China.

It was informed in the federal cabinet meeting that in view of the balance of expenditure and payments, the Ministry of Finance had to take a huge loan.

The sources further informed that it was also recommended to give income tax exemption on approval and payment of profits from old dates.