Tag: #Debt
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Pakistan debt reaches Rs59,247bn in first 9 months of FY-23
The country’s debt has increased to Rs59,247 billion by March 2023. During the ongoing financial year, the volume of debt of the GoP has increased by over Rs10,000 billion in last nine months. Till March 2023, the volume of domestic loans remained more than Rs35,000 billion. While the foreign debt rose to record Rs24,171 billion…
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House Passes Debt Limit Bill in Bipartisan Vote to Avert Default
The House on Wednesday overwhelmingly passed legislation negotiated by President Biden and Speaker Kevin McCarthy to suspend the debt ceiling and set federal spending limits, as a broad bipartisan coalition lined up to cast a critical vote to pull the nation back from the brink of economic catastrophe. Friendship; A bond that withstands the test…
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Circular Debt Management Plan is Being Implemented in Pakistan
Government of Pakistan Ministry of Planning, Development & Special Initiatives Islamabad, January 07, 2021: A meeting of the Cabinet Committee on Energy (CCOE) was held under the Chairmanship of Federal Minister for Planning, Development and Special Initiatives Asad Umar here in Islamabad on Thursday. The Power Division presented the latest circular debt situation and the…
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China bails out Pakistan in repaying its Saudi Debt
Lahore, 14th December: China once again provides help to Pakistan to bail in its time of need. According to reports, China has helped Pakistan to repay its $1 billion Saudi debt. This is the second time China has come to our rescue. Geo News has reported that China has agreed to immediately provide $1 to…
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G20 Declares Framework on Debt Relief for Poor Nations
G20 has declared a framework on debt relief for poor nations.
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Pakistan urges debt suspension until developing countries’ recover from coronavirus’ havoc
UNITED NATIONS, Nov 13 (APP):Pakistan Thursday called on the Group of 20 nations, representing the world’s biggest economies, to extend the suspension of debt payments until the coronavirus-hit developing countries have recovered from the economic devastation wrought by the pandemic. “The COVID pandemic has devastated the economies of many developed countries and it has added…
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Sub-saharan Africa faces huge debt challenge: IMF
Paris, Oct 22 (AFP/APP):Sub-saharan Africa faces a huge challenge, made worse by the coronavirus pandemic, to find nearly $900 billion to repay massive debt and fund essential public spending, the International Monetary Fund warned Thursday. In a special report, the IMF said the region would require some $890 billion in external financing — equal to…
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Debt has become unmanageable
ISLAMABAD, Sep 21 (Online): Pakistan is mired in an unsustainable debt as billions are being borrowed without any justification, an FPCCI official said Monday. Horrible crimes have become the order of the day due to political interference in important departments which has unnerved masses and emerged as a challenge for the criminal justice system, said…
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Government Repaid Rs 5000 billion Debt During Last Two Years: Abdul Hafeez Sheikh
Abdul Hafeez Sheikh says that the government repaid Rs 5000 billion debt during the last two years.
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World’s Finance Ministers Plan for Recovery from COVID19
As the world’s finance ministers plan for recovery from COVID19, Pakistan highlights the importance of debt relief.