According to the released data, the total debt and liabilities of Pakistan have reached a record PKR 50.5 trillion at the end of September 2021.
Pakistan is in debt
On one hand, the condition of the economy of the neighboring country of Pakistan is very bad. On the other hand, if a report is to be believed, then the debt burden on this country is also increasing. In fact, citing official figures released on Wednesday, said in a report. Pakistan’s total debt and liabilities have crossed 50.5 trillion Pakistani rupees (PKR). The amount of loan in rupees is more than the GDP of Pakistan.
Pakistan failed miserably on the economic front
By 31 December 2019, Pakistan had a debt of about 40.94 trillion rupees. Now it has increased to about 45 trillion rupees. This disclosure was made by the Central Bank of Pakistan. The report of the Ministry of Finance of Pakistan itself indicates this. Recently, in Parliament, the government informed about the total debt on the country. If it is divided equally among the population of 21.66 crores of Pakistan, then every Pakistani citizen has a total debt of 1 lakh 75 thousand rupees.
Over PKR 20.7 trillion in 39 months
According to the released data, Pakistan’s total debt and liabilities reached a record PKR 50.5 trillion at the end of September 2021. PKR in the last 39 months is more than 20.7 trillion. The Express Tribune reported that the total debt of the country has increased by about 70 percent. In terms of debt, every person in the country owed Rs 1,44,000 in June 2018. But the same debt has now increased to Rs 235,000 by September 2021.
How much debt increased during Imran government
According to the report of Pakistani newspaper The Express Tribune. Imran’s government’s contribution to this debt is 46 percent. That is, 46 percent of the total debt increased only during the tenure of this government. Even before this, the situation in Pakistan was not much better, but in the last years, it has become worse. One reason for this is also believed to be corona infection. Although Pakistan had a lockdown citing poverty and for a much shorter time than other countries, it still had an impact on the economy.
vowed to reduce the cost of debt
Pakistan’s PM Imran Khan took the oath in the year 2019. Pakistan will bring the country’s public debt to less than 20 lakhs at any cost. Imran was critical of the economic policies of the previous government and claimed that under his leadership the public debt in the country would be reduced.