Once again, our government has shown how detached it is from performance and accountability. In fiscal year 2081/82, the government couldn’t even manage to secure half of the foreign aid it had boastfully targeted. Out of the Rs. 52.32 billion goal for foreign grants, it embarrassingly managed to bring in only Rs. 23.52 billion — just 44.96%.
Yes, you read that right. While the nation grapples with economic stress, rising debt, and crumbling infrastructure, those in power failed spectacularly to bring in funds they themselves had marked as “realistic targets.”
Breakdown?
- Cash grants: Rs. 3.74 billion
- Reimbursable grants: Rs. 13.39 billion
- Direct payment grants: A mere Rs. 475 million
- Material assistance: Rs. 1.63 billion
Meanwhile, they’ve now set a target of Rs. 57.5 billion for foreign grants this year — because clearly, aiming higher while consistently failing lower is the new strategy.
On the other hand, the government was quick to pile up Rs. 134 billion in foreign loans, because borrowing is always easier than earning or performing. Out of a Rs. 217 billion loan target from donors, they managed to pull in:
- Cash loans: Rs. 60.83 billion
- Reimbursable loans: Rs. 44.42 billion
- Direct payment loans: Rs. 29.49 billion
And internal loans? They aimed for Rs. 330 billion and managed Rs. 329 billion — nearly the only target they “almost” achieved. But even that is nothing to celebrate — it simply means we’re deeper in debt with nothing to show.
Let’s talk revenue: The government had set a revenue collection target of Rs. 1.419 trillion — and missed it by a wide margin, collecting only Rs. 1.178 trillion (that’s over Rs. 240 billion short).
Tax revenue fell short by Rs. 170 billion, and non-tax revenue didn’t fare any better. Despite this, the government found ways to spend Rs. 1.523 trillion, as if we’re swimming in surplus:
- Current expenditure: Rs. 980 billion
- Capital expenditure (where real development happens): Rs. 222 billion
- Financial management (read: interest, repayments, and more loans): Rs. 320 billion
And yes, Rs. 243 billion went to repay internal bonds, and Rs. 47.28 billion to repay foreign loans. So we’re working hard… just to pay off past debts — not to develop the country.
What’s worse? Public enterprises continue to devour resources without delivering results — receiving Rs. 24 billion in loans like they earned it.
