Saturday, December 2, 2023

Pakistan Spent Rs. 3.2 Trillion on Loan Repayment & Defence Expenses

Interest costs have dramatically increased to Rs2.57 trillion during the first half of this fiscal year due to resistance to debt restructuring.

This amounts to 65% of the annual budget for debt servicing, which is driving the government to reduce all other spendings, with the exception of that defense.

The cost of interest on the federal government debt stock alarmingly increased by 77% between July and December of the current fiscal year, according to sources in the ministry of finance.

According to the most recent preliminary information, there has been a cumulative 15% decrease in all other non-development spendings, excluding defence, as a result of the fragile position.

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