BUSINESS/FINANCE
Pakistan’s National Debt Soars by 31.5 Trillion Rupees in Three Years, Senate Informed
The Ministry of Finance has disclosed alarming figures regarding the country’s national debt in a report submitted to the Senate. Over the past three years, the national debt has surged by 31.5 trillion rupees, highlighting significant fiscal challenges facing the country.
According to the written response presented in the Senate, the breakdown of the debt increase is as follows: 9.4 trillion rupees were added in the fiscal year 2021-22, 13.7 trillion rupees in 2022-23, and 8.4 trillion rupees in 2023-24. These figures underscore the mounting financial pressures on Pakistan’s economy.
In addition to the debt figures, the Ministry of Finance also provided details on the registration of new taxpayers. In 2023, a total of 3.5 million new taxpayers were registered across the country, reflecting efforts to broaden the tax base amid the growing financial demands. The sharp rise in national debt poses significant challenges for the country’s economic stability and future fiscal planning.