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Country gets USD 1.16 bn foreign inflows during Jul-Apr FY12 – Alfalah Securities Limited

Karachi: As reported in a local newspaper, Pakistan has received foreign inflows amounting to only USD 1.16 bn during the 10MFY12 (as of April 24, 2012) against a budgetary estimate of USD 4.5 bn.

According to Alfalah Securities Limited, the foreign inflows of USD 800 mn on account of Etisalat and USD 850 mn from the auction of 3G licenses in FY12 have failed to materialize. US disbursed USD 111.2 mn while Asian Development Bank (ADB) and World Bank (WB) released USD 546.7 mn and USD 282.6 mn, respectively. Moreover, Australia released USD21.9 mn through AusAID (Australian Agency for International Development), Belgium, Canada, Canadian International Development Agency (CIDA), China, Denmark and EU contributed USD 8.8 mn, USD 5.5 mn, USD 12.2 mn, USD 0.4 mn, USD 1.4 mn and USD 11.8 mn respectively during 10MFY12. Alfalah Securities Limited expects the government would be unable to meet its foreign inflow’s target for FY12 due to poor economic conditions and worsening law and order situation.

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