Five countries collectively owe the Government of Pakistan more than $304.5 million, an audit report revealed on Tuesday.

The report said that the government has made no recoveries so far.

Sri Lanka, Bangladesh, Iraq, Sudan, and Guinea-Bissau are the countries among the defaulters.

Pakistan extended loans to those countries in the 1980s and 1990s under export credit arrangements.

In Pakistani currency, the outstanding amount exceeds Rs86 billion.

Iraq tops the list with $231.3 million in unpaid dues, followed by Sudan with $46.6 million.

Bangladesh owes $21.4 million, mainly for sugar and cement plant projects, while Guinea-Bissau owes $3.65 million.

The Auditor General noted that similar recoveries had been highlighted as far back as the 2006–07 audit.

Despite sending reminder letters and demand notices to the concerned countries, no payments have been received.

The report recommended that the matter be taken up at an appropriate diplomatic and governmental level to ensure the recovery of the outstanding funds.