Ahsan Iqbal says Pakistan's debt exceeds it's earning

NAROWAL: Federal Minister for Planning and Development Ahsan Iqbal said that Pakistan’s debt has exceeded its earning, ARY News reported.

Addressing a public gathering in Ahmed Nagar, Federal Minister Ahsan Iqbal said that the PML-N government was dismissed through rigging and an inexpert was brought into power to who landed Pakistan in an economic crisis.

He said that the Jinnah house attack was an organized attempt to insult the martyr’s memorials and that the suspect do not deserve any relief.

Ahsan Iqbal lambasted the PTI saying that the party was dismantled as a result of just one day in jail. He said that he got shot and jailed but he did not quit party or politics.

Earlier, the State Bank of Pakistan stated that the country’s overall debt rose sharply by 38.1% to Rs54.94 trillion by the end of January 2023 as compared to the year-ago period.

According to the report released by the State Bank of Pakistan (SBP), Islamabad’s total debt has swelled to Rs54.94 trillion. The report further mentioned that the overall debt increased by Rs3.94 trillion in December 2022.

Pakistan’s foreign debt was Rs20.68 trillion in January 2022, the SBP report said.

The report said the rise in debt could be attributed to massive devaluation in the local currency against the United States dollar (US Dollar).