However, according to an official of the Ministry of Finance, on-budget support does not necessarily mean programme lending and project inflows provided by multinational institutions...these are also usually indicated as on-budget support. The International Monetary Fund's refusal to extend a Letter of Comfort (LoC) to Pakistan for failing to implement critical identified and agreed reforms under the stalled and later cancelled 2008 Stand-By Arrangement (SBA) with the Fund accounts for the refusal of other multilaterals to extend budgetary support to Pakistan, analysts said.
Data available with BR shows that Pakistan received $170.89 million from multilateral financial institutions while $113.3 million were received from bilateral donors during the first six months of the current year. 78.6 million dollars were disbursed by ADB, $86.09 million by the World Bank while the Islamic Development Bank disbursed only $6.2 million from July-December 2012. Britain has been the major bilateral donor to Pakistan releasing $41.2 million while the US, the highest grant provider in the last fiscal year, disbursed $13.1 million.