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HomePakistanPunjab government's debt increased to 122 billion

Punjab government’s debt increased to 122 billion

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Staff Report/The Educationist Monitoring

LAHORE: The debt has increased up to 122 billion within the last six months of the year 2019. The analysts have said that either the advisers of Punjab CM have failed to check the increment or speed up the work.

Sources have disclosed that no significant debt has been taken on for developmental works in Punjab and the amount borrowed is to meet the budgetary expenses by the government. That’s why no improvement or work have been seen.

Local debts, meanwhile, have decreased from Rs10.899 billion to Rs9.775 billion while international debt, most of which is in US currency, has risen from Rs681.855 billion to Rs803.412 billion.

According to The Tribune, Punjab government between June 18 and December 18, 2018, paid Rs26.132 billion as debts. In terms of upcoming payments, an amount of Rs27.540 billion has to be paid due to rupee devaluation as compared to the actual amount Rs19.952 billion.

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