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Govt borrows Rs2.24tr in five months

The federal government's domestic and external debts collectively jumped by Rs2.24 trillion during the first five months of this fiscal year, reported the State Bank of Pakistan (SBP) .

 (Subscribe to the Economist magazine now in India, Pakistan & Bangladesh).

Under pressure of low revenue collection, the government has been borrowing excessively to meet its growing domestic expenses while the widening of current account deficit has forced it to seek dollars to meet the external gap.

Total debts of the government rose to Rs26.452tr ­during 5MFY19 an increase of Rs2.24tr or 9.25 per cent over the period.

 

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