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Debt trap

130 63 10
11.04.2021

Over the past 32 months, the PTI government has spent Rs10 trillion more than the government’s income. That’s the budgetary deficit. The budgetary deficit was filled by high cost loans. That’s digging deeper into the debt trap. Over the past 32 months, the circular debt in the electricity sector has gone up from Rs1.1 trillion to Rs2.5 trillion. This Rs1.4 trillion loss has to be filled by high cost loans. That’s digging even deeper into the debt trap.

Public Sector Enterprises have taken Rs2,000 billion worth of debt. The circular debt in the gas sector now exceeds Rs350 billion. The government’s so-called ‘Commodity Operations’ have taken Rs700 billion worth of additional debt. Lo and behold, the Federal Board of Revenue (FBR) has also accumulated Rs710 billion worth of circular debt in the form of ‘tax refunds’. Ever wondered........

© The News International


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