ISLAMABAD, 30 August 2024 (TDI): The federal government has disclosed Pakistan’s total debt figures, revealing that as of June 2024, the country’s debt has reached Rs 71 trillion.
The report presented to the National Assembly shows that the debt is divided into 66% domestic debt and 34% foreign debt. Domestic debt totals over Rs 47 trillion, while foreign debt exceeds Rs 24 trillion. The Ministry of Finance has also released a detailed debt repayment schedule for the coming years.
According to the Schedule:
In 2024, Pakistan will repay Rs 18,700 billion.
In 2025, the repayment will be Rs 8,700 billion.
In 2026, Rs 7,600 billion will be repaid.
In 2027, the repayment will amount to Rs 4,300 billion.
Rs 6,000 billion is scheduled for repayment in 2028.
Rs 8,400 billion in 2029.
Rs 2,400 billion in 2030.
Rs 2,600 billion in 2031, with over Rs 1 trillion of this amount due in that year alone.
Earlier, the federal government announced a three-year economic plan designed to boost the share of provinces in the federal budget from 39.4% to 48.7% by 2027.
Under the National Finance Commission (NFC) Award, provinces are projected to receive Rs 10,350 billion by the fiscal year 2026-27.
The plan outlines increasing provincial allocations to Rs 8,921 billion for the fiscal year 2025-26, rising to Rs 10,350 billion by 2026-27. For the current fiscal year, 39.4% of the budget will be allocated to provinces under the NFC Award.
The government has also recognized the need to revise the resource distribution method among provinces.
Furthermore, the economic plan highlights the growing debt burden, with total debt expected to reach Rs 79,731 billion by the end of the current fiscal year.
Local loans are anticipated to increase by about Rs 7,671 billion, while foreign loans are projected to rise by Rs 818 billion. federal government, Pakistan, debt, National Assembly, domestic debt, foreign debt,
