National debt rises by Rs31.5 trillion in three years, Finance Ministry reports

The Ministry of Finance has informed the Senate that Pakistan’s national debt increased by Rs31.5 trillion over the past three years. 

In a written response, the ministry detailed the annual debt rises, showing an increase of Rs9.4 trillion in the fiscal year 2021-22, Rs13.7 trillion in 2022-23, and Rs8.4 trillion in 2023-24.

The ministry also provided information on the country’s taxpayer base, revealing that 3.5 million new taxpayers were registered in 2023.

In a related report, the Federal Ministry of Economic Affairs shared data last week on IMF borrowings by different political governments in Pakistan. 

The Pakistan Peoples Party (PPP) was identified as the largest borrower, having taken over $7.72 billion from the IMF. The Pakistan Muslim League-Nawaz (PML-N) followed with $6.48 billion, while the Pakistan Tehreek-e-Insaf (PTI) borrowed $6 billion.

Regarding repayments, the PML-N was noted for returning the highest amount, repaying over $5.92 billion to the IMF. The PTI government, however, paid the most in interest, with $791 million in a single term.