Pakistan’s external debt hits highest level of history

ISLAMABAD – Pakistan’s total debt as of November 2018 was reported at Rs26trillion, SBP Report has revealed.

Domestic debt was reported at Rs17 trillion whilst external debt amountedat Rs9 trillion.

Total debt was up 20% (9% since June) and domestic debt grew 10% (6% sinceJune). External debt was significantly up by 50% (17% since June) touchingRs9.12 trillion and in dollar terms external debt was up 13% (1% sinceJune).

The federal government’s debt rose to Rs2.24 trillion in the first fivemonths (July-December) of the current financial year 2018-19, due to ashortfall in revenues and sharp depreciation of the rupee.

Read Top Stories

Pakistan Successfully Launches Indigenous EO-2 Earth Observation Satellite

Former PM Imran Khan Blinded in One Eye? Explosive Claim

Pakistan Air Force Set to Induct Advance Variant of China’s J-35 Stealth Fighters

Four Policemen Including SHO Martyred, DSP Injured in a Terrorist Attack in Pakistan

During July-November of FY18-19, the federal government added approximatelyRs15 billion a day to its debt which includes the 3.5 months tenure of thenewly installed Pakistan Tehreek-e-Insaf (PTI) government.

The debt procured by the federal government from SBP soared by 87% inJuly-November FY18-19, touching a record Rs6.73 trillion at the end ofNovember 2018.