Pakistan's debts stand at Rs41,000 billion, Senate informed

ISLAMABAD: The finance ministry on Friday presented statistics regarding the external and domestic debts of the government of Pakistan until August 2021, in the Senate, showing that they stand at Rs41,000 billion, ARY News reported.

The report stated that Pakistan’s domestic debt saw a surge of Rs10,000 billion in the last three years. The domestic debt was standing at Rs16,000 billion in June 2018, while the same has surged to Rs26,000 billion in August 2021, the report submitted by the finance ministry stated.

Furthermore, the country’s foreign debt registered a surge of Rs6,000 billion in the last three years. The foreign debt on Pakistan was Rs8,000 trillion in June 2018, while the same ballooned to Rs14,000 billion until August 2021.

Simanteosusly, the country’s total external and domestic debt was Rs25,000 billion in June 2018, which has risen to Rs41,000 billion in August 2021.

Earlier in the month of September, the State Bank of Pakistan (SBP) said that the country’s debt has soared to Rs38,697 billion in June 2021 with most of it being acquired from local financial sources.

It said that 68 percent of the loans were acquired from national sources while 32 percent was obtained using foreign funding. “The long term debt stands at 12,297 billion, whereas short term loan is Rs135 million,” the central bank shared.