KARACHI: Pakistan’s budget receipts are largely dependent on the funding from external sources as the economic managers have estimated Rs896 billion from external sources during 2015-16, which include both planned and non-planned resources.

According to the budget documents, country estimates to receive loans of Rs751.5 billion from planned external resources, including Rs23.9 billion grants, and Rs144.5 billion under the head of non-planned resources.

According to details, China would be the biggest source for Pakistan’s external resources. Out of the total figure, China is estimated to provide Rs207 billion while Rs101 billion would be provided under the head of China Safe Deposits.

Total loans for provinces from external resources for the new fiscal year would be around Rs67 billion, with the highest amount of Rs34.4 billion going to Punjab, followed by Rs25.1 billion to Sindh, Rs6.3 billion to Khyber Pakhtunkhwa and Rs1.22 billion to Balochistan.

The documents showed that total programme loans for the provinces from external resources were estimated at Rs19.17 billion. Punjab would get Rs9.335 billion and Sindh Rs9.836 billion. KPK and Balochistan would not get any programme loans for FY16.

However, KP would receive the highest share of Rs8.897 billion grants from the total Rs18.3 billion. Sindh would get Rs6.046 billion, Punjab Rs1.22 billion and Balochistan Rs2.1 bilion.

The country has planned to receive Rs208 billion as projects loans, out of which the federal projects were expected to receive Rs22.8 billion, autonomous bodies Rs118 billion and provinces Rs67 billion. Provinces shares have increased in most of the loans and grants compared to the federal projects. Last year the revised estimate for the t federal projects was Rs48 billion.

However, the autonomous bodies share was much higher. The detail showed that the National Highway Authority would get Rs63.95 billion loans from the total figure. China would provide Rs45 billion for Multan-Sukkur section and Rs13.65 billion for Thaikot-Havelian-Islamabad.

Water and Power Development Authority would get Rs16.94 billion, mostly for power sector. Pakistan Electric Power Company would receive Rs37.396 billion. The government has presented the new budget with estimated fiscal deficit of about 4.3 percent of GDP.

At the same time, it also relies on external loans, aids and grants of Rs896 billion to remain within the expected fiscal deficit.