23 C
Tuesday, November 29, 2022
HomePakistanPunjab government's debt increased to 122 billion

Punjab government’s debt increased to 122 billion

Published on

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.

Latest articles

VCs shocked over higher education budget cut

HEC will get only  Rs30 billion recurring grant against  demand of Rs104.983 billion The allocation...

ITA holds Policy dialogue on Child Friendly Libraries

Participants at a policy dialogue on child-friendly libraries urged to promote learning habits through...

HEC issues statement against own Chairman Dr. Banuri

Chairman HEC’s Allegations of Interference in HEC, Universities Refuted by HEC, govt Staff Report ISLAMABAD: The...

HEC abolishes endorsement requirement for TTS

Staff Report   Islamabad (February 7, 2022): As a step forward towards enhancing the universities autonomy, the...