Pakistan’s total debt, liabilities surge to record Rs81 trillion

Pakistan’s total debt and liabilities peaked at nearly Rs81 trillion during the previous year, according to the State Bank of Pakistan’s latest data released on Thursday.

The central bank's bulletin showed that the country’s total debt and liabilities increased by Rs8.4 trillion as of the end of March compared to the previous year.

The total debt and liabilities now stand at Rs81 trillion, including Rs4.4 trillion in liabilities.

The government accumulated debt at a rate of 12%, averaging Rs31 billion per day during the past year. This is one of the highest monthly increases in public debt.

Every Pakistani man, woman, and child owes Rs288,000 to foreign and domestic lenders during the ongoing fiscal year due to the government's wrong economic policies, according to a former high-official.

The stats were shared by former Minister of State for Finance Aisha Ghaus Pasha.

The gross public debt, which falls under the direct responsibility of the finance ministry, totalled Rs67.5 trillion by the end of March, according to SBP data.

The country's external debt and liabilities climbed to $130.4 billion by the end of March, an increase of $3 billion in the last year.

Pakistan’s debt from the IMF reached Rs2.2 trillion by the end of March, according to the SBP. However, the South Asian country is mulling to secure another long-term bailout package from the global lender.

On the other hand, Pakistan has to pay $60 billion to the IMF in the next three years.