Islamabad, 31 August 2024 (TDI): Information about both domestic and foreign debt as of June of this year has been made public by the federal government. A plan for repaying debt, both foreign and local, for the following 16 years has also been given.
By June of this year, the nation’s overall debt was estimated to be Rs71 trillion, of which more than Rs47 trillion was domestic debt and more than Rs24 trillion was foreign debt, according to data provided to the National Assembly by the Ministry of Finance.
As a result, domestic loans account for 66% of total debt, while foreign debt makes up 34%.
While international debt was acquired from commercial institutions and development partners, domestic debt was created through the exchange of government securities.
A 16-year debt payback plan, from 2024 to 2040, has been unveiled by the Ministry of Finance. Repayment of Rs. 18.7 trillion is scheduled for 2024, and Rs. 8.7 trillion for 2025, according to the records. Seventy-six trillion rupees will be returned in 2026, and forty-three trillion in 2027.
In 2030, Rs 2.4 trillion, in 2031, Rs 2.6 trillion, and in 2032, more than Rs 1.1 trillion are scheduled for repayment. The documents further state that Rs 6 trillion would be paid back in 2028 and Rs 8.4 trillion will be paid towards government debt in 2029.
Also read: Pakistan’s Total Debt Reaches Rs 71 Trillion
Repayment of domestic and foreign debt is expected to occur in the next three years: 2033 for Rs 1.2 trillion, 2034 for Rs 800 billion, and 2035 for Rs 900 billion.
The Ministry of Finance states that 1,038 and 2039 will see the repayment of Rs1 trillion, with Rs800 billion and Rs600 billion coming due in 2036 and 2037, respectively. Rs 800 billion in repayments of both domestic and foreign debt are planned for 2040, according to the timetable.
