KARACHI: Pakistan’s debt has increased by a total of Rs12.430 trillion, the State Bank has released the statistics, in the last 12 months.
According to the details, Pakistan’s debt increased to 12.430 trillion in just 1 year during the coalition and caretaker government. The State Bank document states that the debt of the federal government has reached Rs63.399 trillion by November 2023.
At the local level, the federal government has taken a loan of s40.956 billion from banks, while the level of foreign loans reached Rs22.434 billion. This alarming increase in debt was recorded from November 2022 to November 2023.
State Bank said that in the first 5 months of this financial year, i.e. from July to November 2023, the debt of the federal government increased to Rs907 billion. In November 2022, Pakistan’s debt level was Rs50.959 billion.
It should be noted that earlier in November it was claimed that the overall debt of the country had decreased. Due to the improvement in the value of the rupee, the value of the total debt decreased to Rs1.675 billion during 1 month.
Two months ago, the officials said that Pakistan’s gross debt has recorded the largest reduction in the last 12 years due to the improvement in the value of the rupee, due to measures taken to prevent dollar smuggling and black marketing.
