Pakistan Debt Updates : Of course the prices of petrol and diesel have been reduced in Pakistan, but its economic condition is not good. This economic crisis may create further problems for Pakistan, as its total debts and liabilities have reached 81 trillion Pakistani rupees, which is equivalent to three-fourths of the country’s economy. At the same time, due to junk rating, investment is not being made there, due to which its debt is increasing.
According to State Bank of Pakistan data, loans and liabilities have increased at the rate of 12 percent compared to last year. An average of Rs 31 billion per day. By the end of March, Pakistan’s total debt and liabilities increased by Rs 8.4 trillion compared to the previous year, due to which the country’s debt and liabilities now reached Rs 81 trillion. However, the Pakistani currency remained somewhat stable to some extent, due to which there was some relief in credit growth.
Government companies also took loans to meet the losses.
According to the report of The Express Tribune, debt on government companies has also increased. By the end of March, their liabilities also reached Rs 3.8 trillion. Most of the money was borrowed to meet the deficit. It was said in the report that steps related to reforms were not taken in government companies, due to which more problems are being caused.
It was also told in the report that every government in Pakistan talks about taking strict measures to reduce debt, but it remains only on paper. No government has implemented any meaningful reforms. For the current financial year, the Finance Ministry had budgeted Rs 7.3 trillion for interest payments, which is now expected to increase to Rs 8.3 trillion. The cost of repaying the loan cannot be reduced unless the central bank reduces the key policy rate.