Islamabad (TDI): An official government document that outlines the borrowing habits of the country projects that Pakistan will owe a shocking Rs 49,629 billion in local loans by 2030.
According to the report, treasury bills, investment bonds, sukuk, and savings plans were used to get these loans.
The five-year repayment plan, which includes principal and interest payments, is extensively laid out in the document.
Repayments are owed in full, with Rs 13,269 billion due in 2024—this is noteworthy. In 2025, Rs 12,723 billion, Rs 7,684 billion, Rs 4,758 billion, and Rs 5,608 billion will come after this. Repayment of Rs 4,153 billion is due from the government in 2029, and Rs 1,434 billion in 2030.
Also read: Pakistan Could Not Get $ 9 Bln Loan Rollovers in July 2024
Roughly 59% of this local loans were obtained through Pakistan Investment Bonds; 22% of the debt is derived from Treasury bills; and 10% is related to sukuk bonds.
Prize bonds and National Savings Plans have provided funding for the outstanding debt.
According to the country’s current account, which showed a $75 million surplus in August, Pakistan’s economy just saw a welcome boost.
It is believed that the unprecedented rise in remittances from Pakistanis living abroad is responsible for this turn of circumstances.
The current account deficit in July was $246 million, according to figures made public by the State Bank of Pakistan (SBP), therefore the August surplus represents an impressive improvement.
Pakistan’s economy should become more stable as a result of this development.
Also read: SBP Slashes Key Policy Rate by 200bps to 17.5%
With the increasing remittances being a major contributing component, experts welcomed this surplus as a positive indicator.
“A current account surplus has resulted from the surge in remittances, which has helped bridge the trade deficit,” an economist stated.
