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Print

PTI govt procured $52bn loans; $36.05bn was repaid

  • In contrast, PML-N retired $27.07b in five years with borrowings clocking in at $49.76 billion
Updated 16 May, 2022

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) government tops the list amongst the last four administrations with the highest external borrowing of around $ 52 billion in three years eight months, retired $ 36.05 billion. Pakistan Muslim League (PML-N) is in second place with borrowings of $ 49.761 billion dollars in five years; it retired debt of 27.071 billion dollars.

Data collected from the Ministry of Finance and Economic Affairs Division by this newspaper further revealed that Pakistan Peoples Party (PPP) was in third place for borrowing a total of $ 25.008 billion in five years while retiring $ 14 billion.

During the Gen Musharraf’s era (1999-2007) around $ 17.503 billion was borrowed from external sources and around $ 14.605 billion was retired.

Pakistan’s external debt and liabilities (outstanding) reached an all-time high of $ 130.6 billion by end-December 2021.

Public debt stands at Rs41.466trn, NA told

During the PTI government, foreign debt rose by $ 35.3 billion or 37 percent (till December 2021), while it was $ 95.2 billion when the PTI government came to power.

During the PML-N tenure, foreign debt soared by around $ 34 billion as it was around $ 61 billion when it came to power.

The PTI government’s domestic borrowing was also the highest when compared to the other three governments.

The PTI government borrowed Rs 9,136 billion during its tenure compared to PML-N’s Rs 6,896 billion, PPP’s Rs 6,919 billion and Musharraf’s Rs 1,212 billion.

Copyright Business Recorder, 2022

Comments

1000 characters
Sohaib May 16, 2022 10:15am
Net borrowing of PTI government (borrowing minus repayment) is less than PMLN government despite higher prices.
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MALIK DAOUD KHAN May 16, 2022 11:16am
PTI took on $52b - $36b = $16b PML took on $49.7 - $27b = $22.7b PTI figures are better, if you take into account inflation, PTI figures are even more better.
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Anwar Tawakkaly May 16, 2022 11:29am
One point is missing, what was the foreign exchange position when the came to power and when they left….this should also be considered
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abrar ahmed May 16, 2022 01:58pm
The maths is a fun subject. PTI only took $ 16 billion loan but somehow Pakistan Foreign debt increased by $ 36 billion during their tenure. The author of this article is an art scientist who deserves a noble price. But then all youthia's will be quoting him on all mediums now. God Bless Pakistan
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abrar ahmed May 16, 2022 02:02pm
Maths is an interesting subject. PTI Govt took only $ 16 billion loan during its tenure but National External debt swelled by $ 36 Billion. The author of this article seems to be an art scientist who deserves a noble price. PTI followers plz quote him on a wide scale as it is more truer than truth. God Bless Pakistan
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Ahmed May 16, 2022 02:35pm
@MALIK DAOUD KHAN, why the external debt got increased by 35b usd , if PTI took net 16b usd additional
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Hussain Javed May 16, 2022 03:30pm
PTI government also topped the pay back of loan in 3.5 years.
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M M Alam May 16, 2022 04:50pm
@MALIK DAOUD KHAN, PMLN figure is for 5 years and PTI for 3.5 years. Yearly average is same for both at $4.54b pti and $4.57b pmln. As a percentage of GNP it is high during PTI as GDP figures expressed in USD terms was depressed due to devaluation.
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Faheem Ahmad May 16, 2022 08:16pm
why dont MEDIA is sharing this more?
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Hurair May 17, 2022 06:14am
This report is fake. PTI took 40 billions doller upon which 6.6 billions doller was interest. They retained 25billions doller loan +6.6 doller interest and increases the reserved by 7 billions. This is the total that pti took a net of only 5 or 6 billion loan
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Hurair May 17, 2022 06:22am
Will the actual figure is that PTI government took 40billion loan upon 6.6dillion doller interest. They retained 27 billion dollars loan + 6.6 billions loan. They increase about 8 billion palistan reserves. So the net figure came out to be 5 or 6 billion.
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Adnan May 17, 2022 11:29am
We should see the net increase in debt. Forget every other thing. In PMLN 5 years, total debt increase to 95.2 billion $ from 60.9 billion $. In PTI three years debt rose to 130.6 billion $ from 95.2 billion $.
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Tarique May 17, 2022 08:27pm
Nice suits at a reasonable & affordable price.
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F Nawaz May 18, 2022 01:16am
Class 9 essay?
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Taimur Khan May 18, 2022 05:05am
Taking on debt is.not necessarily evil. Depends on what its for. Debt to finance luxury cars and swiss chocolates wont take us far while debt to incur capital expenditure and increase industrial capacity can be very useful.
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Rehan May 18, 2022 09:57pm
I don't care who inflated the debt more. It's all asinine at this point. Financial mismanagement has been the hallmarks of every regime. Is there any sign or plan to stem the bleed?
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RIZWAN HAIDER May 19, 2022 11:36am
@abrar ahmed, please consider accrued interest on earlier loan..19B $ interest accrued
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Din Jun 05, 2022 03:01pm
@Adnan, What about the interest someone pays for more debts? do you think the interest on Musharraf's era 61 Billions will be equal to 95 Billions when PLMN left the govt?
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Mohammad Sharif Khan Jun 06, 2022 04:21pm
The Federal Govt. must be serious in Economic Growth and taking loans for non development expenditures .
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Shehbeez Jun 13, 2022 02:57pm
@Sohaib, it is not. This is the external debt file from SBP: https://sbp.org.pk/ecodata/pakdebt_Arch.xls
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Shehbeez Jun 13, 2022 02:57pm
@abrar ahmed, This article is totally wrong. This is the external debt file from SBP: https://sbp.org.pk/ecodata/pakdebt_Arch.xls
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Shehbeez Jun 13, 2022 02:58pm
@Faheem Ahmad, Because this article is totally wrong. This is the external debt file from SBP: https://sbp.org.pk/ecodata/pakdebt_Arch.xls
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Shehbeez Jun 13, 2022 02:59pm
@Adnan, in just 44 months!
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Shehbeez Jun 13, 2022 03:02pm
@M M Alam, yearly average is far higher for PTI. PTI increased external debt by $33.7 billion in external debt in just 44 months. PML N increased it by $34.3 billion in 60 months. This is the external debt file from SBP: https://sbp.org.pk/ecodata/pakdebt_Arch.xls
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