ISLAMABAD: The National Assembly was informed on Wednesday that total debt – both domestic and external debt – from 2019 to 2022 stood at Rs9.33 trillion.
In a written reply to a question, Finance Minister Ishaq Dar said total domestic debt in 2022 stood at Rs4.77 trillion while external debt stood at Rs4.56 trillion.
He also said that the federal deficit stood at Rs5.61 trillion, while total expenditure remained Rs9.35 trillion in 2022 during Pakistan Tehreek-e-Insaf (PTI) government.
In her remarks, Minister of State for Finance Aisha Ghaus Pasha said the previous government took massive loans, but did not initiate any major development project.
“We have taken new loans to repay the previous ones,” she said, adding that the economic situation of the country is quite worse and most of the loans are being used to run the affairs of the country.
To a question, she said rising inflation is a global phenomenon and so is currency depreciation. About the current inflationary trend, she said that international factors have significantly contributed to the price hike of essential commodities.
However, she said that responsibility also rests with the provinces to maintain supply chains to check inflation.
Responding to a calling attention notice, Minister of State for Law and Justice Shahadat Awan told the house that the pension of the Employees Old Age Institution (EOBI) would be increased in July this year.
He said that a consultant had been hired to determine the pension of the EOBI’s beneficiaries, keeping in view the institution’s proceeds. He said that about 413,000 people are currently benefiting from the EOBI’s pension scheme, adding the pension is being given in the range of Rs8,500 to 21,000.
The house also passed two bills which include the National Skills University Islamabad (Amendment) Bill, 2023 and the NFC Institute of Engineering and Technology Multan (Amendment) Bill, 2023. Both bills were moved by Federal Minister for Education Rana Tanveer Hussain.
Copyright Business Recorder, 2023