ISLAMABAD – The government will borrow Rs1,900 billion more in debt by Julythis year, whereas, the government will need to repatriate over $28 billionof external debt by 2023, the finance ministry disclosed to the NationalAssembly on Thursday.
The details of the amount of loan government needed to be repaid by 2023were presented to the National Assembly.
To which the finance ministry said the current government needs torepatriate $28.2bn of external debt by 2023.
Whereas, the government will reimburse Rs12,261 billion in local loans,during its constitutional period, informed Parliamentary Secretary FinanceZain Qureshi, during the question hour session.
The National Assembly was told that the government plans to borrow Rs800billion from internal sources whereas, the remaining Rs1.1 trillion will beborrowed from external sources.
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The Parliamentary Secretary said the inflation rate is being brought downas a result of series of measures and these included non-borrowing from theState Bank of Pakistan. He rejected the impression that the government isconsidering to bring a mini budget.
He said that the government is taking necessary steps to ensure fiscaldiscipline, stabilize economy and accelerate the growth.
The process of revamping the economy through structural reforms andstabilizing measures such as broadening the tax base, reforming the publicsector enterprises and reducing the fiscal deficit has been started, headded.
