Foreign debt soars to over Rs74 trillion

ISLAMABAD: Pakistan’s foreign debt and liabilities touched the highest figure of over Rs74 trillion in the first month of the current financial year, according to the State Bank of Pakistan (SBP) figures. It showed an increase of about Rs11.15 trillion in the last four years.

Pakistan’s foreign debt and liabilities in July 2013 stood at $61.9 billion, which was the first financial year of the present government. In July 2014, Pakistan’s foreign debt soared to $63.4 billion, showing an increase of $1.5 billion in one-year time.

In July 2015, the next year, the total size of Pakistan’s foreign debt rose to $65.1 billion recording an increase of $1.7 billion in one-year time. Then started the next year i.e. July 2016, which showed an increase of $7.9 billion, the highest increase in debt in one-year time. The SBP website reflects Pakistan’s total foreign debt piled up to Rs74 trillion, showing a record high debt in the history of the country.