Pakistan National Assembly on Friday was informed that the country's public debt increased by Rs 14.9 trillion from July 2018 to June 2021 by the Ministry for Finance and Revenue.
In a written reply to a question, the house was informed that the exchange rate depreciation added around Rs 2.9 trillion (20 per cent of the increase) in public debt while the government paid Rs 7.5 trillion against interest servicing which is 50 per cent of the increase in the total public debt, reported The News International.
The government borrowed Rs 3.4 trillion (23 per cent of the increase) to finance primary deficit. The impact of economic slowdown due to the Covid-19 pandemic resulted in higher than estimated primary deficits.
The house was informed that Rs 1.0 trillion (7 per cent of the increase) was on account of increased cash balances of the government to meet emergency requirements, reported The News International.
National Assembly was further informed that the total amount committed by foreign countries and organizations for the COVID-19 response is USD 4,250.8 million out of which USD 3,632.7 million have been disbursed (as of November 10, 2021).
The house was also informed that the Cabinet Division constituted an inquiry commission on debt in June 2019 and it is yet to submit its inquiry report, reported The News International.
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor