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Businessmen demand govt austerity to tackle escalating debt crisis
Call for reduced bureaucratic spending, expanded tax base and targeted economic reforms
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Finance Ministry reveals massive increase in debt over three-year period
Ministry also discloses that 3.5 million taxpayers were registered across the country in 2023
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Ukraine eyes debt deal before deadline, seeks to add GDP warrants
Ukraine intends to include GDP warrants as part of its effort to restructure $20 billion of international bonds
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Pakistan budget to significantly reduce government debt, rating agency Fitch predicts
Pakistan’s FY25 budget aims to cut government debt to 68% of GDP, aided by inflation and lower interest costs.
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$23b in foreign borrowing planned
Pakistan expects rollover of $12 billion bilateral debt
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Budget 2024-25 sets big tax target ahead of IMF talks
Govt had to find ways to increase revenues to reduce fiscal deficit as part of reforms being discussed with the lender
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Pakistan plans Panda Bond return after IMF loan approval
Finance minister signals revival of commercial borrowing strategy to tackle rising debt, CAD
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Traders for action against debt crisis
Call for reforms to curb expenses, widen tax net, privatise loss-making SOEs
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Govt may use reserves to repay debt
Pakistan has to make large repayments that will keep default risks high
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Pakistan has to repay $10b by July
Pressure mounts on govt high-ups to seek rollovers, repay loans on time
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Poor rating mars $3.5b debt plan
Govt needs funds for Basha dam, once again wants to include it in CPEC
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Is strategic default a pathway towards economic rejuvenation?
Reliance on external financing to sustain domestic expenditure creates precarious debt trap
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Debt-cum-disaster
Country’s debt has soared by around Rs12 billion to post a composite figure of Rs81 trillion in this fiscal year
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The unending circular debt saga
Govt must cap new plants, prioritise solar energy, address governance issues
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No increase in debt-free inflows
External sector-related projections suggest Pakistan will continue relying on IMF
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Pakistan’s debt soars to record Rs81tr
Burden equals 3/4 of economy, surpassing statutory limit by 15%
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PSO proposes swapping debt
CEO says company is in talks with govt to acquire stakes in public-sector firms
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Chinese investors seek offshore funds
Pakistan needs to make annual payments of about $2.4b towards debt, dividends
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Govt implements sweeping fiscal reforms to cut debt
Rules target trillions in public funds parked by ministries, departments in commercial banks
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IMF sounds alarm on debt challenges
MD Georgieva calls for global action as debt crisis escalates
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Pakistan successfully repays foreign debt worth $1 billion
SBP says repayment including interest done days before bond's maturity date
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Soaring debt pile worries industrialists
Businessmen ask govt to avoid more loans by promoting local brands
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SBP facilitated govt debt: report
Says central bank provided indirect loans to govt leading to high inflation
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PIA Holding Company approves Rs268b debt restructuring
Govt aims to privatise airline by June 11th, with bids invited as early as next week
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Will provinces shoulder Pakistan’s debt burden?
Political parties will resist such measures as they disrupt free lunches and lavish spending
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‘Longer IMF programme could lead to debt trap’
Dr Ashfaque Hasan Khan warns against IMF dependency, calls for domestic reforms
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US encourages cooperation with IMF
State Department spokesperson says policies over next few months are crucial for financial stability
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China agrees to rollover $2b debt on existing terms
Beijing had initially sought a hike in interest rate
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Govt gets only $9.2b in foreign loans
Borrowing made for budget and balance of payments support, project financing
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Austerity measures reintroduced
PM bans creating new positions, making any major purchases amid economic strain
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Budget deficit increases to Rs8.54tr
Cuts external loan estimates by over $6 billion to $11.4 billion
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Power Division claims circular debt frozen at Rs2.310tr
Says efficiency measures, anti-theft drive resulted in meeting IMF target
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Tightening trap of debt
Pakistan’s total debt and liabilities including domestic and external debt stand at Rs77.66 trillion
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How bad is country’s debt crisis and can the IMF save it?
A $3b IMF programme runs out next month, securing a new one is considered top priority for incoming administration
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The debt bomb
The biggest problems are almost universal among troubled economies
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Debt burden surges to record high of Rs81.2 trillion
Debt and liabilities increase by another Rs17.4tr as of end-Dec
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PDM economic management led to sharp rise in per capita debt
A year under coalition govt triggered 25% surge in per capita debt
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Forex reserves dip $173m to $8.04b
SBP attributes decrease to debt repayment; rupee appreciates slightly
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Debt repayment
Pakistan is obligated to repay $77 billion over the next three years
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Baqir urges new govt to tackle 'economic hurdles'
Stresses need to address sustainability of Pakistan’s debt
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Indebted nation
Pakistan’s national debt has shot up to almost 75% of GDP in the latest finance ministry report on the subject
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DISCOs contribute Rs396b to debt
Report highlights that decline in recovery of bills has exacerbated crisis
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PIA debt burden shifted to taxpayers
Govt backtracks; agrees to making principal, interest payments from budget
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Debt exceeds legal limit by Rs14.5tr
Finance ministry conceals critical information, violates fiscal laws
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Debt plan may be sent to IMF
SIFC arm gives directive to seek lender’s approval for Rs1.27tr debt settlement plan
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IMF warns of risks to economy despite stabilisation
Says risks have emerged to debt sustainability, ability to pay back IMF loans
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Ballooning circular debt
Energy sector’s circular debt has reached Rs5.73 trillion as of end November, or 26% more in barely two months
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Govt allocates Rs30b to ease PSO debt crisis
Sources say Rs5b released, Rs25b more to be released this week
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Circular debt reaches Rs5.73tr
Despite price hikes, power and gas sectors cross Rs2.7tr, Rs3tr respectively
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Govt borrows Rs6tr from banks
Short-term borrowing made to repay financing acquired in past