Imran Khan govt borrows ₹7.5 trillion in just 1 year, breaks all record

Islamabad: Pakistan's ruling Imran Khan government has broken all previous records in borrowing money merely in the first year of its tenure. According to the official data, during the one-year regime of the present government ₹7.509 trillion (Pakistani currency) increase was recorded in the total debt of the country. A report in the Pakistani media, citing sources, said the State Bank of Pakistan has sent this borrowing data to the Prime Minister's Office. Between August 2018 and August 2019, the government has borrowed ₹2.804 trillion from foreign sources and ₹4.705 trillion from domestic sources, the report said. According to the State Bank data, a 1.43% surge was noticed in the public debt of Pakistan in merely first two months of the current fiscal year. The debt of the federal government has reached to ₹32.240 trillion that was ₹24.732 trillion in August last year. The government's tax collection in the first quarter of the current fiscal was ₹96000 crore while the target was ₹1 trillion, the report said. Source: Livemint