According to State Bank of Pakistan data, Pakistan’s debt surged by 4 trillion or about 7.7 percent in January 2023 to be very close to PKR55 trillion. In 2022 this
According to State Bank of Pakistan data, Pakistan’s debt surged by 4 trillion or about 7.7 percent in January 2023 to be very close to PKR55 trillion.
In 2022 this number was close to PKR 42.39 trillion, which shows it has increased by 30 percent as compared to last year. Furthermore, domestic debt jumps to PKR 34.3 trillion by end of January. This shows it has increased by 3.4 percent as compared to last month and is almost 25 percent higher than last year’s numbers.
On the other hand, external debt jumps to PKR 20.69 trillion which shows that Pakistan is as usual heavily dependent on borrowings.
The Minister for Economic Affairs, Omar Ayub, also said that against receipt of US$ 37.857 billion in foreign loans, the government of Pakistan paid US$ 29.815 billion as external debt servicing including principal & interest payments from August 2018 to October 2021. Thus, the net inflow is only US$ 8.042 billion in 39 months (average US$ 2.474 billion/year).
Meanwhile, from July 2013 to June 2018, the Pakistani government got US$ 49.762 billion in foreign loans and returned US$ 27.071 billion in debt repayments. Accordingly, the net outflow remained at US$ 22.691 billion throughout the five years (4.538 billion each year on average).
As a result, he stated that the current administration was required to pay US$ 29.815 billion in foreign loan repayments, encompassing accrued interest, from 2018 to October 2021 (an average of US$ 9.174 billion per year).
Total loan taken by PTI Government 2018 to 2022
- The PTI government takes out a total loan between 2018 and 2022:
- Received US$ 38.8 billion as foreign loans
- Repaid US$ 29.815 billion as debt servicing
- Net inflow US$ 8.042 billion
Total loan taken by PML N Government 2013 to 2018
- PML-N government from July 2013 to June 2018:
- Received US$ 49.762 billion as foreign loans
- Repaid US$ 27.071 billion as debt servicing
- Net inflow US$ 22.691 billion
The below details provides an overview of the total loan taken by the PTI Government in foreign loans and grants:
- The amount borrowed from the State Bank in 22 months.
- Panagahs established by PTI govt in 22 months: 200+
- Rs 2 Billion was allocated to transform the PM house into a university.
- Effective diplomacy saved Pakistan from paying a $1.2bn penalty in the Karkey case.
- Kartarpur corridor was constructed and made operational within months.
- Modi was exposed across the globe, Kashmir issues were raised at international forums, and India was isolated.
- The ten billion tree Tsunami project is praised globally and replicated by other developed countries.
- Sehat Sahoolat cards are being provided to every family in KPK and provide Insurance coverage worth 1 million per family annually.
- Rs 150 Billion+ distributed among the needy through the Ehsas Emergency Cash program.
- Funding was provided for several DAM projects. Work on most has commenced and will be completed after PTI’s tenure finishes because a leader thinks of the next generation. Not the next election.
- The government is paying utility bills for small businesses in an attempt to shoulder some of their expenses in times of Covid19.
- The current account deficit reduced to $3 Billion from $20 Billion within 22 months.
- State Bank’s reserves have increased from $9.7 Billion to $12.3 Billion in 22 months.
- 1.2 million families of Azad Kashmir get Sehat Sahulat cards with insurance coverage of Rs 1 million per family annually.
- Tax collection was increasing at a rate of 17% before Covid19 arrived. Hundreds of thousands of new filers had registered with the FBR.
- Seven million families will receive Sehat Sahulat Card in Punjab this year. 4.6 million families have already received it. All these families would have insurance coverage of Rs 1 million annually.
- After Covid19 arrived, Imran Khan was the first leader who raised their voice for debt relief. He was mocked. People discussed his tracksuit for days. A few weeks later, Pakistan secured $2.4 billion in debt relief.
- “In Pakistan, the outlook has improved markedly since the 2018 general election victory of Imran Khan. In a short period, the country has seen notable improvements in business sentiment & macroeconomic policy-making.” -Financial Times.
- Covid19: Cases per million around the world: 1,275 Cases per million in Pakistan: 901 Deaths per million around the world: 68.3 Deaths per million in Pakistan: 18
- Discussed Kashmir’s issue every time he met President Donald Trump leading to the US president repeatedly offering to mediate between India & Pakistan to solve the Kashmir crisis. The previous PM wouldn’t even mention Kashmir.
- Thousands of poor Pakistanis locked up in prisons abroad were brought back to Pakistan thanks to PM Imran Khan’s impressive diplomacy. GhareeboN ka Wazir e Azam.
- Pakistan secured Foreign Direct Investment (FDI) of $2.1 Billion in the first 9 months of the financial year 2019-2020. Highest in the last 11 years.
- In 22 months, the PTI government has constructed and revamped 1824 km of roads across Pakistan. Which is 600 km more than PMLN did in their last 2 years.
- PM Imran Khan reduced the PM office staff, to 298 from 552. Reduced the operating cost of the PM office to 339 million from 509 million. (33% reduction) No camp offices. Bears expenses of his house himself. Unprecedented Austerity.
- Ease of doing Business: Pakistan was ranked 147th in the world in 2018. Pakistan has jumped 39 places to 108 under Imran Khan’s leadership in less than two years.
- In 22 months, PM Imran Khan’s Total Loan Taken by PTI Government has brought the Trade Deficit down to $21 billion from $37 billion.
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