Breaking News :

Nausheen Shah hits back at trolls on Instagram

Current account deficit to remain between 2-3pc in FY22: SBP

Sharif met Mohib to protect Pakistan’s national interest: Abbasi

Pakistan, Saudi Arabia agree to further economic cooperation

Noor asked me to bring Rs700,000 to Zahir’s house: driver

China, Pakistan agree to boost cooperation under CPEC

Pak, Saudi Arabia agree to further bilateral ties

PML-N, PPP reject AJK results

Pakistan ranks top 10 in business environment: Chinese report

PPP bags Sindh-Balochistan seat of AJK assembly

Four martyred in AJK as Army vehicle falls into ravine

PTI wins 25 seats in AJK elections

25 textile companies contribute 21pc to $25bn exports

Gandapur’s misogynist remarks against Maryam draw public ire

I am definitely the candidate to replace PM Khan: Mehwish Hayat

Govt welcomes UK move against corrupt elements

Tajik forces declare readiness to counter any uncertain scenario on Afghan border

Qureshi set to embark on China visit today

Cargo ship stranded at Karachi’s Seaview for second day

Video of a bull getting out of control and shot goes viral

A must-try recipe for this Bakrid

WhatsApp introduces joinable calls feature

Delta variant on a roll in Karachi

Security of Chinese nationals improved after Dasu incident

Zalmay holds talks with Army Chief, PM

Cryptocurrency advocates want Pakistan to align itself with modern times

Saudi Arabia allows shops to remain open during prayers

Behroze Sabzwari speaks on his son’s separation with Syra Yousuf

RSS ideology main hurdle in Indo-Pak peace: PM Khan

Uninstall these apps if you want to use WhatsApp

Pakistan, Uzbekistan set to produce a film together

Mahira Khan says she is not even engaged

Disappointed at allegations from Afghanistan: PM Khan

Chaman border closed after Taliban get close

Pakistan for Afghan-owned solution in Afghanistan: Qureshi

Some updates about the upcoming iPhone 13

Sherry says Pakistan doesn’t criminalise violence

Will EVMs be effective in Pakistan?

Cuba proposes to establish a vaccine plant in Pakistan

Ban on TLP to be maintained: Fawad Chaudhary

Twitter lashes out at Pakistani team as they suffer a 3-0 whitewash

Maryam Nawaz’s blunder lands her into hot waters yet again

Taliban destroy two helicopters of the Afghan forces

Naegleria claims 4th life in Karachi

PM Khan reiterates support to Kashmiri struggle for freedom

Monsoon season begins in Pakistan

Khalilzad embarks on diplomacy tour of Qatar, Uzbekistan and Pakistan

Bushra Ansari proves again that age is just a number

No taxes on imports for exports sector from Aug 14: FBR

Faysal Quraishi recreates his viral ‘jaahil log’ video

Pakistan welcomes Iran’s role in Afghan peace process

WhatsApp may finally allow you to select quality for sending visual content

Beware! 22 brands of water declared unsafe for human consumption

PM warns nation of Covid-19’s Indian variant

Shahroz says he always saw a life partner in Sadaf

Biden vows to stand by Afghan security forces

Pakistan to see electric cars in this month

China assures to stand behind Pakistan regardless of world politics

Pak vs Eng: Haris Sohail ruled out of ODI series

Spotify vs Apple Music vs Sound Cloud: 12 best music streaming services in 2021

$1b Eurobonds floated at 8.5% interest rate

Man accused of assaulting young couple arrested in Islamabad

Legendary Bollywood actor Dilip Kumar passes away

Karachi matric board chairperson explains details behind controversy

How to know if you have been blocked by someone on Whatsapp?

India clearly behind Lahore blast: Sheikh Rashid

State keen to talk to Baloch insurgents: Chaudhary

People unhappy with scantily clad women at Hum Style Awards

Minal’s fans are worried after her hospital pictures go viral

Why you should refrain from investing in crypto

Selected Imran should refrain from commenting on Pakistan’s nuclear assets: Maryam Nawaz

Khalil-ur-Rehman Qamar sides with PM Khan over his statements on rape

UAE-Pakistan friendly ties continue to foster growth, development

Govt spending $10bn annually to pay off debt

7f988636 2b30 4d4c 82c1 2682ed4cb50b

7f988636 2b30 4d4c 82c1 2682ed4cb50b

The government on Tuesday said that it was spending around US $ 10 billion per annum for debt repayment as against around US $ 5.5 billion being paid by the previous government.

The statement was made in front of the federal cabinet, which met here with Prime Minister Imran Khan in chair, was given a detailed briefing about the country’s debt and their repayment during the fiscal years 2018, 2019 and 2020.

The meeting was informed that as the present government inherited the debt of Rs3 trillion (Rs3000 billion), it had to take more loans for debt servicing and to save the country from default, a press release showed.

The cabinet was told that the present government had received US $ 24 billion as foreign loan including US $ 2 billion taken during interim government.

It was informed that during the fiscal year 2019, the public debt registered an increase of Rs770 billion, mainly due to the restoration of the true value of rupee, it added.

The cabinet was told that the public exchequer had a hit of Rs100 billion in terms of revenue due to COVID-19; Rs210 billion were utilized in the repayment previous governments’ debt, whereas Rs100 billion were reserved by the government as cash buffer.

With increase in public debt declining to Rs350 billion in 2020, the primary deficit decreased from Rs150 billion in 2019 to Rs100 billion in 2020, it was informed.

The cabinet was told that for the first time in last 12 years, the primary surplus until March 2020 was Rs20 billion, before affected by COVID-19, it said.

The meeting was told that the government had taken various measures during the last two years including securing decline in primary deficit; stabilizing exchange rate; improving the quality and nature of domestic debt; improving the nature of foreign debt; and introducing new products and other measures regarding loans.

The cabinet was told that the present government was focusing on the augmentation of country’s exports and foreign exchange reserves.

The cabinet was informed that with the educational activities being restored throughout the country from September 30 (Wednesday), the process of education for 30 million school children would revive.

Read Previous

747 new cases reported Coronavirus resurges

Read Next

Gulf companies keen to invest in Gwadar

Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x