LAHORE:
The outstanding debt of the province stands at Rs414.556 billion at the end of fiscal year 2011-12.
This debt consists of Rs59.844 billion domestic loans and Rs.354.712 billion foreign loans.
The foreign debt rose by around Rs10 billion. It was recorded at Rs344.514 billion in June 2011. New loans amounting to Rs13.590 billion were taken and debt worth Rs14.788 billion repaid by the government in 2011-12.
Another Rs11.396 billion was added to the province’s foreign debt on account of the depreciation of the rupee.
The domestic loans declined from Rs76.147 billion (in June 2011) to Rs59.844 billion. Loans amounting to Rs16303 billion were repaid in the outgoing fiscal year.
The government had in May 2011 announced that it would not take more foreign loans.
Published in The Express Tribune, June 10th, 2012.
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So Punjab debts are in a better position than they were last year and if we minus depreciation of the rupee its a good performance!!!