Pak foreign debt soars to Rs 74 trillion

Tuesday, Aug 30, 2016,11:36 IST By metrovaartha A A A

Islamabad | Pakistan’s foreign debt and liabilities touched the highest ever figure of over Rs 74 trillion in the first month of the current financial year, the country’s central bank said Tuesday.

It showed an increase of about Rs 11.15 trillion in the last four years, State Bank of Pakistan (SBP) said.

Pakistan’s foreign debt and liabilities in July 2013 stood at USD 61.9 billion, which was the first financial year of the present government.

In July 2014, Pakistan’s foreign debt soared to USD 63.4 billion, showing an increase of USD 1.5 billion in one-year time, Geo TV reported.

In July 2015, the next year, the total size of Pakistan’s foreign debt rose to USD 65.1 billion recording an increase of USD 1.7 billion in one-year time.

Then started the next year July 2016, which showed an increase of USD 7.9 billion, the highest increase in debt in one-year time.

The SBP website reflects Pakistan’s total foreign debt piled up to Rs 74 trillion, showing a record high debt in the history of the country.