In PTI’s 15-Months Rule, Pakistan’s Debt Increased By 40 Percent
Pakistan’s public debt and liabilities have been increased by 40% in 15 months, the total debt and liabilities that stood at Rs29.879 trillion at the end of the fiscal year 2018 crossed Rs41.489tr at the end of September 2019.
According to the debt policy statement laid before the parliament, the ministry of finance noted that at the end of the fiscal year 2019, the total debt and liabilities were reported to have increased by about 39pc or Rs10.344tr to touch Rs40.223tr.
Government’s external debt during the 15-month period also increased by 36pc or Rs2.8tr to Rs10.598tr from Rs7.796tr. External liabilities on the other hand increased by 160pc to Rs1.6tr by end of September 2019 from Rs622bn in June 2018.
The Ministry of Finance, however, justified this due to a series of factors, most of them emanating from its policies. The factors included delay in renewing telecom licenses, delay in sale of envisaged state assets, and a shortfall in the transfer of State Bank profits contributed an additional 0.5pc of the GDP.