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Pakistan to repay $95.4 billion foreign debts by 2059

ISLAMABAD, Pakistan: The National Assembly was told on Thursday that it is projected that the government will repay approximately US$ 95.4 billion from June 2022 to June 2059 based on existing commitments of the government of Pakistan.

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Replying to a question in writing, the Minister for Economic Affairs told the House that of US$ 95.4 billion, US$ 82.0 billion will be repaid as principal while almost US$ 13.4 billion will be repaid as interest (subject to exchange rate and interest rate variations).

The minister further told that as of May 31, 2022, Pakistan‘s total external debt and liabilities amounted to US$ 126.07 billion of which US$ 85.64 billion were on account of Public External Debt.

Separately, the Minister for Finance and Revenue Miftah Ismail told the National Assembly to another question that Rs 12,345 billion of loans were obtained by the government from 2019 to April 2022.

Domestic loans are primarily obtained through auctions of Treasury Bills, Pakistan Investment Bonds (PIBs)/Sukuks conducted by the State Bank of Pakistan (SBP) from Primary Dealers and Central Directorate of National Savings (CDNS).

The loans from external sources are obtained from multilaterals, bilateral and commercial sources.

Commercial loans, bonds and other loans are obtained by the Ministry of Finance directly from international market and international banks..

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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