21:45 GMT +314 October 2019
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    Pakistan's Prime Minister Imran Khan arrives ahead of the start of the 74th session of the United Nations General Assembly at U.N. headquarters in New York City, New York, U.S., September 24, 2019

    Imran Khan-led Government Breaks Debt Record

    © REUTERS / Yana Paskova
    Asia & Pacific
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    New Delhi (Sputnik): Pakistan's government has been borrowing money at record levels under Prime Minister Imran Khan's leadership, according to data from the State Bank of Pakistan.

    According to official data, the total debt of Pakistan rose by Rs. 7,509 billion ($48.1 billion) during the first year of the Imran Khan-led government.

    The State Bank of Pakistan says that a 1.43 percent surge in borrowing was seen during the first two months of the current fiscal year alone.

    The debt of the federal government has reached to Rs. 32,240 billion ($206.6 billion) compared with just Rs.24,732 billion ($158 billion) in August last year.

    In July this year, the International Monetary Fund (IMF) approved a $6 billion bailout package under a 39-month extended arrangement to help Pakistan to generate sustainable and balanced growth.

    During his recent three-day China visit, Prime Minister Khan has said that corruption was one of the biggest challenges currently faced by Pakistan.

    "This is important not only for Pakistan but for most of the developing world because corruption stops investment. Corruption is one of the biggest impediments to the investments coming into your country," Khan added.


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