By Mati Ullah Khan
ISLAMABAD, Pakistan: Pakistan’s total debt and liabilities jumped to Rs 77,104.1 billion (Rs 77.1 trillion) by the end of the Fiscal Year 2022-23, an addition of Rs 23,511.8 billion (Rs 23.5 trillion) or 43.84% in just 15 months government of the Pakistan Democratic Movement (PDM) from Rs 53,592.3 billion (Rs 53.6 trillion) left by the Pakistan Tehreek-e-Insaf (PTI) government in March 2022.
By the end of March 2022, the gross public debt stood at Rs 44,383.7 billion (Rs 44.4 trillion) and with an increase of Rs 18,496.4 billion, it reached Rs 62,880.1 billion (Rs 62.9 trillion) by the end of FY 2022-23, according to the monthly debt bulletin of the State Bank of Pakistan (SBP).
In the PDM government, the total domestic debt surged to Rs 38,808.9 billion (Rs 38.8 trillion) from Rs 28,076.5 billion (Rs 28 trillion) left by the PTI government 15 months ago, an addition of Rs 10.8 trillion (or 38.5%) in just 15 months.
The federal government’s external debt by the end of March 2022 was Rs 14,936.2 billion (Rs 14.9 trillion) and later soared to Rs 22,030.9 billion (Rs 22 trillion) after the 15 months of the PDM government, posting a growth of Rs 7,094.7 billion (Rs 7.1 trillion).
It’s worth mentioning that the figures for July 2023 – which was the 16th month under the PDM government – has not yet been compiled by the SBP.
Pakistan’s Debt and Liabilities Summary in 15 months of PDM government;
|Gross Public Debt||Rs 44.4 trillion||Rs 62.9 trillion||41.6%|
|Domestic Debt||Rs 28 trillion||Rs 38.8 trillion||38.5%|
|External Debt||Rs 14.9 trillion||Rs 22 trillion||47.6%|
|Total Debt and Liabilities||Rs 53.6 trillion||Rs 77.1 trillion||43.84%|
It’s also worth noting that the PTI government had added Rs 22.7 trillion to the total debt and liabilities from October 2018 to March 2022 (42 months) while the Prime Minister Shahbaz Sharif administration exceeded the threshold in just 15 months with Rs 23.5 trillion growth.
Similarly, Rs 18.1 trillion addition to the public debt during the PTI government was surpassed by the PDM government by adding Rs 18.5 trillion to it during their comparatively mush shorter stay in power.