Pakistan's total debt value has significantly decreased by Rs 1675 billion during one month due to the improvement in the value of the rupee. According to experts, the overall debt of Pakistan has decreased in the last 12 years, which is the result of the caretaker government's economic strategy, especially administrative measures to prevent dollar smuggling and black marketing. The total debt quarterly data from the State Bank of Pakistan shows that compared to August 2023, there was a significant decrease in the total debt of the government by Rs 1675 billion during September 2023. By the end of August, the total debt value was a record Rs 63,966 billion, which reached the level of Rs 62,291 billion at the end of September.

In a period of one month, the value of the total loans has decreased by 2.6% due to the stabilization of the value of the rupee. According to the data released by the State Bank, the value of loans in August was estimated at 305.62 rupees to the dollar, while the average value of the dollar in September was 287.78 rupees, which reduced the value of total loans. Although there was a significant decrease in the volume of loans till the end of September compared to August of the current financial year, the total loans increased by Rs 1450 billion in the first quarter. At the end of June 2023, the value of total loans was recorded at Rs 60,840 billion.

 
Credit: Independent News Pakistan (INP)