ISLAMABAD:
Pakistan’s total debt has crossed Rs 81 trillion and each citizen has a liability of around Rs 325,000, the Senate Standing Committee on Economic Affairs reported on Thursday.
During the committee meeting, officials from the Economic Affairs Division revealed that of the total debt, external liabilities account for more than Rp 26 trillion, while domestic loans exceed Rp 55 trillion.
Officials cited the country’s fiscal deficit as a major driver of rising debt and noted that additional borrowing is required to cover the shortfall. They also highlighted that the depreciation of the rupee has further increased the debt burden.
The committee expressed concern about assigning responsibility for economic policies solely to parliament.
The committee chairman said the Khyber-Pakhtunkhwa government had borrowed Rs300 billion, which remained unutilized, but the provincial government continued to pay interest on the loan.
