The Dhaka Times Desk Pakistan's economy is heading towards a dire situation. According to an Indian media report, the country's debt has reached 60 million Pakistani rupees due to the huge devaluation of the currency, the flawed policies of the Pakistani government led by Imran and then Shehbaz Sharif!
Now the question is whether Pakistan, burdened with unbearable debt, is on the way to bankruptcy like Sri Lanka in the end?
Recently, the State Bank of Pakistan has come up with information regarding the country's debt. It shows that in the last financial year alone, Pakistan's public debt was 930,000 crores of Pakistani rupees.
However, at the end of June 2022, this debt has reached a record level of 49 lakh 20 thousand crores. It does not end here. The debt bulletin published in the financial year 2021-22 shows that the debt has increased by a huge amount compared to the national economy.
The condition of Pakistan's foreign exchange reserves is also in a similar situation. In the first 5 weeks of the current financial year, the currency has declined by more than 200 billion US dollars.
Former Pakistan Prime Minister Imran Khan came to power and brought his previous governments to justice. He complained that the previous government had saddled the country with debt. He also promised to save the countrymen from this debt burden.
However, data shows that the Tehreek-e-Insaf (PTI) government has the highest debt in 43 months. When Imran stepped down from the Prime Ministership last April, the amount of the government's new debt was 19,15,000 crores of Pakistani rupees!
According to a report, government debt skyrocketed during Imran's tenure due to lower-than-targeted tax collection, currency depreciation, high interest rates in the country, excessive spending and losses of state-owned enterprises. Source: Anandabazar newspaper.
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# try to stay at home all the time.
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# three-layer cloth mask can be washed if desired.
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# Wash hands thoroughly (for at least 20 seconds) with soap or liquid before coming outside.
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