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Imran Khans bankrupt regime in Pakistan?

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Imran Khans bankrupt regime in Pakistan?

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Imran Khans bankrupt regime in Pakistan?
October 10
18:10 2019

No wonder the economy of Pakistan depends on war mongering? It has become a pauper in the first year of Imran Khan rule and has you borrow a whopping 7509 billion ( pak rupee)in public debt. Pakistan’s government has broken all previous records in borrowing money merely in the first year of its tenure. According to the official data, during the one-year regime of the present government Rs 7,509 billion (Pakistani currency) increase was recorded in the total debt of the country.

A report in the Pakistani media, citing sources, said the State Bank of Pakistan has sent this borrowing data to the Prime Minister’s Office. Between August 2018 and August 2019, the government has borrowed Rs 2,804 billion from foreign sources and Rs 4,705 billion from domestic sources, the report said. According to the State Bank data, a 1.43 per cent surge was noticed in the public debt of Pakistan in merely first two months of the current fiscal year. The debt of the federal government has reached to Rs 32,240 billion that was Rs 24,732 billion in August last year.

The government’s tax collection in the first quarter of the current fiscal was Rs 960 billion while the target was Rs 1 trillion. About ₨ 18.17 trillion is owed by the government to domestic creditors, and about ₨ 1.378 trillion is owed by Public Sector Enterprises (PSEs). Similarly, as of March 2019, external debt of Pakistan is now around US$105 billion, says international banks.

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