Pakistan Total Debt Increases by 38% in an Attempt to Cover up Previous Debts.

According to latest data released by State Bank of Pakistan, total debt of country has increased by 38% percent. However, in 13 months tenure of PTI the raise in debt recorded is 35%. The current figure of debt and total liabilities recorded is Rs 41,489 billion on 30th September 2019. However, Previously the figure was Rs 29,879 billion as on 30th June, 2018.

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The figure shows that PTI government has added Rs 10000 billion in total debt in 13 months. Which is 40% of total debt that is taken in last 10 years of previous governments of PPP and PML-N.

The SBP figures relating to the total public debts and liabilities by end June 2013 (the year when PPP completed its tenure) were Rs16,228 billion. When the PML-N government left, the total debts and liabilities were almost Rs29,000 billion.

The government has stated that this elevation in debt is because of the corruption done by the previous governments. In order to cover up the losses occurred in previous governments, current government had no option but to take loans. A huge amount of loans taken by previous governments has badly damaged the country’s economy.

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