Pakistan is going through a severe economic crisis in its country nowadays. Now a report has come in Pakistan news that Pakistan govt has added Rs 46,000 debt burden on each Pakistani citizen in last one year.
According to report of Pakistani news agency ‘The News’ , the PTI government of Imran Khan during the first year of its rule has increased an additional debt of almost Rs 46,000 on each Pakistani which has broken all previous records of adding debt burden in Pakistan.
In July 2018, The total debt burden on each Pakistani citizen was Rs 136,000 which has now increased to Rs 182,000 during the last fiscal year July 2018 to June 2019.
According to latest State Bank of Pakistan (SBP) report, Pakistan’s total debt and liabilities highly increased to Rs 40,214 billion (40.2 Trillion) till end March 2019. During Last fiscal year, Pakistan’s total debt was Rs 29,879 billion (29.8 Trillion) in June 2018 which has been increased by approx Rs 10,000 Billion (10 trillion) in last 9 months. The total debt and liabilities in percentage of GDP have touched 104.3 percent.
In just one year an increase of over Rs 10,000 billion has been seen in Imran Khan tenure. If this debt keeps on increasing with the same pace then after five years when Imran Khan’s government will be completing its tenure, there will be a total addition of at least Rs 50,000 billion debt which will increased the Pakistan total debt to Rs 80,000 billion. It means it will add atleast additional Rs 2 lakhs debt burden on each Pakistani citizen in next 4 years and the total debt burden on each Pakistani citizen will be reached to Rs 382,000 after 4 years.
Timeline of Pakistan’s Total debt
- 1947= Rs 0
- 2007= Rs 6,691 Billions
- 2013= Rs 16,228 Billions
- 2018= Rs 29, 879 Billions
- 2019= Rs 40,214 Billions
Note: All figures are in PKR (Pakistani Rupees )