Pakistan dollar rate

  1. Pakistan public debt surges to Rs 59.2 trillion


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Pakistan public debt surges to Rs 59.2 trillion

Islamabad: Pakistan’s total public debt was recorded at Rs 59.2 trillion at the end-March 2023, registering an increase of Rs 10,005 billion during the first nine months of the current fiscal year 2022-23. According to Economic Survey 2022-23 that domestic debt was recorded at Rs 35.076 Trillion while external public debt was recorded at Rs 24.171 Trillion or US$ 85.2 billion. It is important to note that as of the current dollar rate, Pakistan’s entire GDP at the current dollar rate is close to a 100 trillion PKR. Out of Rs 59.247 Trillion total public debt, the government debt was recorded Rs 54.392 trillion in end March 2023. According to Survey, the debt stock of multilateral sources increased by US$ 2.3 billion during the period. On the other hand, bilateral debt stock decreased by US$ 0.9 billion, while the debt stock of commercial loans registered a net decrease of around US$ 3.7 billion. The main gross inflows included US$ 1.1 billion from the IMF program, US$ 1.5 billion from ADB’s BRACE program, US$ 1.1 billion from World Bank, and US$ 0.5 billion from AIIB. The gross repayment to foreign commercial banks was US$ 4.5 billion, out of which, US$ 0.7 billion was refinanced by China Development Bank (CDB). The federal government repaid US$ 1.0 billion of international Sukuk in December 2022. Whereas, the stock of Pakistan Banao Certificates, Naya Pakistan Certificates, and non-resident investment in Government securities (T-bills & PIBs) cumulatively decreased by US$...