ISLAMABAD: Minister for Economic Affairs Hammad Azhar on Thursday informed the National Assembly that the government would return over $10 billion foreign debt during the current fiscal year.
Replying to various supplementary questions during Question Hour, the minister said the “incumbent government returned $8.39 billion foreign debt from August 18, 2018 to June 30, 2019.”
He said past government had obtained loans on short terms during last two years of its tenure which had to be returned.
The minister said the foreign debt on August 18, 2018 was $73.1 billion.
To another question, he said debt to GDP ratio had exceeded from the limit during the tenure of past government. However, he said that the incumbent government was making efforts to bring it down to the prescribed limit.
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