In a major economic development, Pakistan's debt massively reduced by Rs.1675 billion
There has been a significant reduction of 1675 billion Pakistani rupees in Pakistan's overall debt during a one-month period, reflecting improved financial conditions.
According to experts, this decrease in total debt attributed to administrative measures, especially those aimed at curbing dollar smuggling and black marketing, as part of the responsible economic policies of the incumbent government.
Data from the State Bank of Pakistan indicates a noticeable decrease of 1675 billion rupees in the government's total debt during September 2023 compared to August 2023. The total debt stood at 63,966 billion rupees at the end of August, reducing to 62,129 billion rupees by the end of September.
In the span of one month, there has been a 2.6% reduction in the total debt, with the debt now standing at 3056.2 billion rupees due to the strengthening of the rupee. Despite the significant decrease in the volume of debt by the end of September compared to August, the first quarter of the fiscal year witnessed an increase of 1450 billion rupees in the overall debt.