Pakistan's Debt Hits Record High at PKR 67.816 Trillion
Pakistan’s debt has reached an unprecedented high, hitting PKR 67.816 trillion, as reported by the State Bank of Pakistan (SBP). This alarming figure represents a 15 percent increase over the past year, with an addition of Rs 8,852 billion to the federal government’s total debt. The central bank's data highlights a stark financial landscape. In May 2023, the country’s total debt was recorded at Rs 58,964 billion. By April 2024, this figure had ballooned to Rs 66,086 billion, illustrating the rapid escalation of the debt burden. This surge in debt underscores the fiscal challenges facing the federal government, as it struggles to manage both domestic and external financial obligations. One of the critical components contributing to this debt is Pakistan’s domestic debt, which has also soared to a record level of Rs 46,208 billion. This domestic debt constitutes a significant portion of the total debt, reflecting the government’s heavy reliance on internal borrowin...
