Imran Khan government breaks record, borrows
Rs 7500 billion in first year of its tenure!
Rs 7500 billion in first year of its tenure!
Islamabad: Pakistan’s ruling Imran Khan government has broken all previous
records in borrowing money merely in the first year of its tenure. According to
the official data, during the one-year regime of the present government Rs
7,509 billion (Pakistani currency) increase was recorded in the total debt of
the country.
A report in the Pakistani
media, citing sources, said on Wednesday 9th October 2019 the State Bank of Pakistan
has sent this borrowing data to the Prime Minister’s Office.
Between August 2018 and
August 2019, the government has borrowed Rs 2,804 billion from foreign sources
and Rs 4,705 billion from domestic sources, the report said.
According to the State Bank
data, a 1.43 per cent surge was noticed in the public debt of Pakistan in
merely first two months of the current fiscal year. The debt of the federal
government has reached to Rs 32,240 billion that was Rs 24,732 billion in
August last year.
The government’s tax
collection in the first quarter of the current fiscal was Rs 960 billion while
the target was Rs 1 trillion, the report said.
No comments:
Post a Comment