Pakistan’s National Debt Hits Rs. 71 Trillion, Govt Unveils Repayment Plan Till 2040

As of June 2024, Pakistan’s national debt has surged to an unprecedented Rs71 trillion. In response, the Federal Government has laid out an extensive debt repayment schedule that stretches from 2024 to 2040, aiming to tackle this growing burden on the nation’s economy.

The detailed plan, presented by the Finance Ministry to the National Assembly, reveals that domestic debt accounts for 66% of the total debt, amounting to over Rs47 trillion, while foreign debt stands at more than Rs24 trillion. The repayment plan for the upcoming years is steep, with Rs18.7 trillion set to be paid in 2024, followed by Rs8.7 trillion in 2025, Rs7.6 trillion in 2026, and Rs4.3 trillion in 2027. The payments continue with Rs6 trillion scheduled for 2028 and Rs8.4 trillion in 2029.

The government has committed to releasing more details about its debt management strategies by June, promising greater transparency regarding both domestic and foreign loans. This announcement comes as Pakistan grapples with economic challenges that demand urgent and effective solutions to ensure financial stability.