Pakistan is drowning in debt from head to toe, debt increased by 5 times in 10 years, 45% population fascinated two times
Drinking ghee If someone is doing a tax in the right of idiom, then it is Pakistan. Loans are being taken from countries around the world, but there is no concern about how it will repay that debt. On the contrary, the boast is such that the biggest country of the world should be shame. Let us tell you that Pakistan’s debt has increased to 76,007 billion Pakistani rupees in the first nine months of the current financial year. This information itself has been given by the Government of Pakistan. Recently, Pakistan has taken a big loan from IMF and ADB. The arrival of Pakistani leaders, which is arranging for Pakistanis by taking loans, has not diminished despite this.
Debt increased by 5 times in 10 years
The debt burden on Pakistan has increased to 76,007 billion Pakistani rupees. This figure is equivalent to Rs 23.1 trillion rupees or about 269.3 billion US $ in Indian rupee, which suggests that the debt burden has almost doubled in only four years. Pakistan had a loan of 39,860 billion Pakistani rupees in 2020-21. The economic report warns about the country’s financial situation that “a very or poorly managed loan can cause serious weaknesses, such as increased interest burden and if it is ignored, it can weaken long -term fiscal stability and economic security.” A decade ago, the country’s public debt was 17,380 billion Pakistani rupees, which means that the loan has increased by about five times in ten years.
Pakistan infamous to ask for loan
Pakistan has been infamous to seek relief packages from international organizations as well as ‘Allied countries’. Pakistan Prime Minister Shahbaz Sharif even said that “Today when we go to a friend country or call, he feels that we have come to ask for money from them.” Sharif had also said earlier that small economies have also surpassed Pakistan, “And we have been wandering with a bowl of begging for the last 75 years.”
On the other hand, according to the World Bank, India has taken out a record number of people out of poverty, but according to the latest estimate of the World Bank on Pakistan, about 45 percent of its population lives in poverty, while 16.5 percent people live in extreme poverty. That is, this population is fascinated for the bread of June 2, but the arrogance of the leaders is not decreasing.
Expectation of improvement
Pakistan’s financial year begins from July 1. According to the review, the government’s debt increased to 76,000 billion Pakistani rupees in the first nine months of the current financial year, including 51,500 billion Pakistani rupees from local banks and 24,500 billion Pakistani rupees from external sources. Pakistan Finance Minister Muhammad Aurangzeb said that the economy is on the path of reform for the last two years, and the process has strengthened in the current financial year. The review is a major document highlighting the government’s economic performance in FY 2024-25.
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