Karachi: Sindh government owes 13 billion rupees to the federal government despite paying more than 22 billion rupees interest on a 30-year-old loan of 2 billion rupees.
The government of Sindh had taken a loan (Cash Development Loan) of 2 billion 23 crore 83 lakh 67 thousand rupees from the federal government in the financial year 1994-95, on which it paid 22 billion 27 crore 65 lakh 90 thousand rupees as interest in 30 years. Despite this, Sindh government owes 13 billion 29 crore 25 lakh 50 thousand rupees.
According to the document of the finance department, despite the payment of 12 billion 75 crore 79 lakh 95 thousand rupees till the financial year 2014-15, 14 billion 13 crore 23 lakh rupees remained due, after which 15 billion 23 crore 53 lakh rupees remained in the financial year 2021-22. During the current financial year, 4 billion 21 crore 74 lakh 30 thousand rupees have been paid as interest, but still 13 billion 29 crore 25 lakh 50 thousand rupees are owed.
In this regard, during the regime of former President General Pervez Musharraf in 2001, an order was given to end the interest on cash development loans, but even this could not be implemented, due to which the Sindh government is still paying interest of billions of rupees.
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