Karachi: There has been a significant reduction of 1675 billion rupees in Pakistan’s overall debt during the month due to the improvement in the value of rupee.
According to experts, there has been a decrease in Pakistan’s overall debt over the past 12 years, which is the result of prudent economic policies, particularly the government’s measures to control dollar smuggling and black marketing.
On the other hand, the State Bank of Pakistan’s data shows that there has been a noticeable reduction of 1675 billion rupees in the government’s overall debt during September 2023 compared to August 2023. The total debt stood at 63,966 billion rupees at the end of August, which decreased to 62,291 billion rupees by the end of September.
There has been a 2.6% reduction in the overall debt due to the stability of the rupee during the month. According to the State Bank’s data, the estimated value of the debt in dollars was set at 305.62 rupees in August, while it remained at 287.78 rupees in September, resulting in a decrease in the overall debt.
Despite a significant reduction in the volume of debt from August to September, there was an increase of 1450 billion rupees in the overall debt during the first three months. The total debt was recorded at 60,840 billion rupees at the end of June 2023.