Pakistan’s debt and liabilities reached Rs62.5 trillion

KARACHI: The financial woes for Pakistan continue to pile up as the country’s debt and liabilities have soared over Rs62.5 trillion. According to the report issued by the State Bank of Pakistan (SBP), the government debt has jumped by Rs12 trillion, 23.7 per cent more than last year.

The report further revealed that last year the debt and liabilities stood at Rs51.1 trillion. This year, the numbers have jumped up by Rs12 trillion. The discouraging numbers, piling loans, and lack of financial backing to repay loans have pushed Pakistan to rely on more foreign loans.

Currently, the negotiations with the IMF for the release of loan tranche are also delayed which has raised uncertainty in the business community.

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