Pakistan's net public debt reaches to all-time high of Rs25280 bn
As per law, volume of loan should not exceed 60pc of GDP.
(Dunya News)- Pakistan’s net public debt has piled up to whooping Rs25820 billion mark with Rs11500 billion added only in four-year tenure of incumbent Pakistan Muslim League Nawaz’s (PMLN) government.
As per documents available with State Bank of Pakistan (SBP), the volume of the national loans has augmented to Rs16200 billion while that of foreign loans has soared to Rs9000 billion.
The volume of overall loans—when PMLN govt took power back then in 2013—was Rs14318 billion. During its four years and three months tenure, the party which made tall claims of breaking the begging bowl added mammoth Rs6500 bn to volume of national loans and Rs5000 billion to volume of foreign loans, thus overall figure of loan taken by current govt stands at Rs11500 billion.
It is pertinent to mention that Musharraf-led federal govt took Rs3200 bn loan during its eight-year tenure while Zardari-led Pakistan Peoples Party govt added Rs8000 bn to overall loan volume.
The law compels that volume of loan should not exceed 60pc of Gross Domestic Product (GDP) but the loans have crossed over 65pc of GDP at present.
Published in Roznama Dunya, 16th December, 2017
