Quoting data of the State Bank of Pakistan, Waheed pointed out that Pakistan’s public debt was standing at Rs4.8 trillion in 2007, but by the end of June 2018 the debt and liabilities surged to Rs29.8 trillion.
PHOTO:FILE
As the cost of debt servicing was taking a heavy toll on the economy and resultantly development and public welfare projects were suffering badly, the ICCI chief emphasised that the government should devise an out-of-the-box strategy, in consultation with the private sector, to free the country of the need for borrowing.
China's 'Silk Road' project runs into debt jam
Quoting data of the State Bank of Pakistan, Waheed pointed out that Pakistan’s public debt was standing at Rs4.8 trillion in 2007, but by the end of June 2018 the debt and liabilities surged to Rs29.8 trillion.
Published in The Express Tribune, September 4th, 2018.
Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.
1734945455-0/Untitled-(88)1734945455-0-405x300.webp "article")
1734944224-0/Untitled-(87)1734944224-0-165x106.webp "article")
1734942436-0/Untitled-(86)1734942436-0-165x106.webp "article")
1734899716-0/image-(15)1734899716-0-270x192.webp "trade war between us and china round two")
1734899549-0/image-(16)1734899549-0-270x192.webp "productive structure and income distribution")
1734778885-0/Untitled-(10)1734778885-0-270x192.webp "jennifer lopez is all smiles alongside new bodyguard amid post split situation")
COMMENTS
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ