By our correspondent
ISLAMABAD: A Senate Standing Committee on Economic Affairs, chaired by Senator Saifullah Abro, revealed that Pakistan’s total debt has reached PKR 81 trillion, including PKR 26 trillion in external debt and PKR 55 trillion in domestic borrowings.
Officials noted that with a population of 250 million, each Pakistani now carries a debt burden of over PKR 325,000.
During the meeting, Senator Saifullah Abro stressed that increasing exports and reducing imports could help the country avoid further reliance on the IMF. He cited Iraq as an example, saying that despite years of conflict, Iraqi companies now largely produce locally and import less.
The committee chair urged authorities to implement policies that encourage exports and reduce debt, warning that unchecked borrowing is harming the country.
Finance Ministry officials explained that all loans, domestic and foreign, are repaid with interest, typically by taking new loans to service old ones—a practice that drew laughter from committee members.
Senator Saifullah Abro also criticized mismanagement of development funds, questioning how millions allocated to MNAs were spent in just seven days, and called for stricter oversight on funds disbursed from national banks.
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