Debt soars Rs18.5tr during PDM govt
ISLAMABAD:
In an alarming development, the Pakistan Democratic Movement (PDM) government added Rs18.5 trillion to the public debt in just 15 months, which was more than the debt accumulated by its arch-rival Pakistan Tehreek-e-Insaf in its three-and-a-half-year tenure, reveals a central bank statement.
Gross public debt jumped from Rs44.4 trillion in March 2022 to Rs62.9 trillion by the end of fiscal year 2022-23, according to the monthly debt bulletin of the State Bank of Pakistan (SBP). The debt in a short period of mere 15 months increased at a pace of 41.7% amid absence of any credible strategy to contain it. As a result, the federal government debt, which is the direct responsibility of the finance ministry, jumped to Rs60.8 trillion by the end of June 2023. There was an addition of Rs18 trillion in one year and three months’ rule of the PDM government, according to the debt bulletin released on Wednesday.
Public debt pile grows at pace of 41.7%, reaches Rs62.9 trillion by end of June 2023
tribune.com.pk
