Pakistan government state run companies debts and liabilities reach unprecedented high levels

Pakistan government state run companies debts and liabilities reach unprecedented high levels
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LAHORE - Pakistan government state run institutions and companies debt and liabilities have rose sharply adding to the miseries of the new government.

The debts have rose in fiscal year (FY) 2017-18 by 23.5%, reports revealed on Monday.

As per details garnered, during FY 2017-18, debt and liabilities reach Rs 1300 billion which were recorded at Rs 1052 billion in FY 2016-17.

Debt and liabilities were 3.8% of the GDP in FY 2017-18 whereas they were 2.4% (Rs 538 billion) of the GDP in 2012-13.

Debt and liabilities of Pakistan Steel reached Rs 131 billion.

Economy