Friday, June 14, 2024

Pakistan’s Total Debt and Liabilities Hit Record Rs 81 Trillion

Pakistan’s total debt and liabilities have sharply risen to nearly Rs81 trillion, which is now equivalent to three-fourths of the national economy. This amount exceeds the limit set by the Fiscal Responsibility and Debt Limitation Act by approximately 15%.

In the past year alone, Pakistan’s debt increased by Rs8.4 trillion, bringing its total liabilities to Rs81 trillion. This marks a significant 12% rise, translating to an increase of Rs31 billion every day.

As of March, the gross public debt managed by the finance ministry reached Rs67.5 trillion. Simultaneously, the federal budget deficit hit a record high of Rs6.7 trillion due to expansive government policies aimed at stimulating the economy.

Debt incurred by Public Sector Enterprises also escalated, reaching Rs3.8 trillion to offset their deficits.

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