Ministry of Finance 15 Release the details of the increase in the volume of gross loans in the month
Islam Abad (94 news) Ministry of Finance from July 2018 to September 2019 15 11.61 trillion rupees increase in total loans during the month, According to which 4.11 Trillion rupees of debt(35 percent of the total increase) 3.54 trillion rupees of debt was obtained to cover the fiscal deficit(31 percent of the total increase)Due to the devaluation of the rupee caused by the wrong exchange rate and poor industrial and trade policies of the previous government, it created a huge and unsustainable current account deficit., To control this, the currency exchange rate had to be reduced immediately.
According to the Ministry of Finance 3.13 Trillion rupees of debt(of total increase 27 Percent) The increase is due to the government's decision not to borrow from the State Bank of Pakistan in the future, increasing the level of cash balances that are reserved to deal with difficult and unexpected situations, but this does not affect the overall debt, the State Bank has liquid assets available to cover the debt or cover the gap. According to the Ministry of Finance. 0.47 Trillion rupees of debt(4 Percent)The increase is due to borrowing by government agencies to meet their financial needs.
According to the Ministry of Finance 0.08 Trillion rupees of debt(minus 01 percent) taken for repayment of loan for commodity operation, which is a welcome thing. According to the Ministry of Finance. 0.25 Trillion rupees of debt(2 percent of the total increase) Increase of Pakistan Investment Bonds issued by State Bank of Pakistan(PIB) Due to the difference between the face value which is used to record the loan and the realized value which is recorded as a budget receivable.According to the Ministry of Finance 0.8 Trillion rupees of debt(2 percent of the total increase) The increase in Pakistan's private sector external debt reflects the country's private sector engagement with international financial institutions to boost its business activities, but private sector debt is not the responsibility of the government, nor is it included in total debt and payments due to its effects on foreign exchange.
