ISLAMABAD – Pakistan is still trying to recover more than $303 million in outstanding payments from five countries, according to a recent audit report. The total amount, when converted to local currency, exceeds Rs86 billion.
Iraq tops the list of defaulters, owing $231.3 million. Sudan follows with unpaid dues of $46.6 million. Bangladesh has yet to repay $21.4 million related to sugar plant and cement exports. Guinea-Bissau owes $3.65 million, while Sri Lanka is also included among the five countries in default.
The Auditor General of Pakistan first flagged these outstanding recoveries in 2006-07. However, officials say little progress has been made in the nearly two decades since.
Representatives from the Ministry of Economic Affairs said that recovery efforts are ongoing through diplomatic channels. The Ministry of Foreign Affairs is coordinating with the relevant nations via joint ministerial committees. Reminder letters and demand notices have also been issued to the five countries.
The audit body has now advised that the matter be escalated to a higher diplomatic and political level. It believes that direct engagement at the top leadership level could improve the chances of recovering the long-standing dues.
Officials stressed that the funds, once recovered, could be used to support development projects and ease fiscal pressure on the national budget. They also noted that the delay in repayment affects trade relations and hampers trust between countries.
The government has assured that efforts will continue until the full amount is recovered from all five nations.
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