Federal Minister for Finance and Revenue Muhammad Aurangzeb informed the National Assembly that Pakistan’s total debt stood at Rs71.3 trillion as of June 2024, representing 67.4% of the GDP.
The figure includes Rs24.1 trillion in external debt and Rs47.2 trillion in domestic debt.
In a written response, the minister emphasized that maintaining a zero or positive current account balance and boosting Foreign Exchange Earnings (FEE) relative to external debt interest rates could gradually reduce the external public debt.
He noted that Pakistan posted a current account surplus of $944 million during the first five months of FY25, a marked improvement from the $1.676 billion deficit in the same period last year.
Minister of State for Finance Ali Pervaiz Malik informed the house of the government’s comprehensive plan to address the undocumented economy, limited tax base, and reliance on regressive taxation.
He said Prime Minister Shehbaz Sharif has approved a transformation plan for the Federal Board of Revenue (FBR), with efforts underway to strengthen the capacity of the FBR and Customs.
