Islamabad:
An audit has revealed that five countries owe Pakistan tens of thousands of millions of dollars, with the accountant in Pakistan (AGP) recommending that the case be addressed to the relevant diplomatic level of improvement, it appeared on Tuesday.
Officials of the Ministry of Economic Affairs said that they persecuted the recovery through the Foreign Office using diplomatic channels and joint ministerial committees. Remindion letter and demand messages have also been sent to the five defaulted countries.
According to the audit report, the list of breaches Sri Lanka, Bangladesh, Iraq, Sudan and Guinea-Bissau, from which Pakistan has so far failed to recover $ 304.5 million.
The report said Pakistan expanded export credit to these countries during the 1980s and 1990s. In Pakistani currency, the unpaid amount exceeds RS86 billion.
Iraq tops the list of debtors with $ 231.3 million outstanding, followed by Sudan owing $ 46.6 million. Bangladesh’s outstanding debt amounts to $ 21.4 million relating to sugar systems and cement projects. Guinea-Bissau owes $ 3,653 million.
The report notes that AGP had also marked the unpaid amounts in the audit 2006-07, when at which time the letter of reminder and demand messages were sent.
