Govt debt surged to Rs27.6 trillion till Feb 2019
Last updated on: 06 April,2019 04:17 pm
The debt has been increasing at the rate of Rs415 billion per month.
(Web Desk) - The federal government’s debt has soared to Rs27.6 trillion with a net addition of Rs3.4 trillion in just eight months due to low tax revenue, high expenditure and currency depreciation, according to the State Bank of Pakistan’s (SBP) statistics.
The debt has been increasing at the rate of Rs415 billion per month.
In first nine months of the current fiscal year, the FBR suffered a shortfall of Rs318 billion in revenue collection. In seven months, the debt was added by Rs2.9 trillion.
Till August 2018, the total debt was Rs24.7 trillion.
From July through February 2018-19, the government on an average added Rs14 billion a day to its debt, which included almost six and a half months of Pakistan Tehreek-e-Insaf (PTI) government.