Finance Ministry Reports Significant Increase in National Debt
The Ministry of Finance has disclosed to the Senate that the national debt surged by Rs31.5 trillion over the past three years. According to their report, the debt increased by Rs9.4 trillion in the fiscal year 2021-22, by Rs13.7 trillion in 2022-23, and by Rs8.4 trillion in 2023-24.
Additionally, the Ministry of Finance revealed that 3.5 million new taxpayers were registered across the country in 2023.
IMF Borrowing and Repayment Data Released
In related news, the Federal Ministry of Economic Affairs has released information detailing which political party’s government in Pakistan borrowed the most from the International Monetary Fund (IMF) and which repaid the most loans and interest.
The data shows that the Pakistan Peoples Party (PPP) borrowed the largest amount, totaling over $7.72 billion. The Pakistan Muslim League-Nawaz (PML-N) follows with $6.48 billion in borrowings, while the Pakistan Tehreek-e-Insaf (PTI) borrowed $6 billion.
In terms of repayments, the PML-N government led the way, returning over $5.92 billion to the IMF. However, the PTI government paid the highest amount in interest, totaling $791 million in a single term.
