Connect with us

Business News

Pakistan’s External Liabilities Touch a Whopping $106 Billion For 1st Time in History



There seems to end to Pakistan’s economic crisis as the nation’s external liabilities reached the highest number for the first time in history at a whopping $106 billion.

Chinese Debt-Trap a Hoax; No Country Suffered Except Sri-Lanka and Pakistan

Same is the situation of internal debt. If combined external debt and liabilities and internal debt it Rs 35095 billion collectively, according to Pakistan’s GeoTV. This number forms about 75 percent of GDP which under the constitution should not be more than 60 percent of GDP.

A glance of official documents showed that Pakistan external debt at the end of the third quarter stood at $74.17 billion and liabilities were $31.67 billion. This number is highest as far as external debt and liabilities are concerned.

Last year on March 31st these loans were $92.288 billion which showed that Pakistan pile-up her external loans by $13.6 billion. A look at break up at major loans showed that Pakistan owed to Paris club $84.4 billion, which include multilateral, euro and sukuk bonds, military debt, commercial loans and Saudi Fund for development. Then IMF’s loan is $5.77 billion.

Former Federal Minister Ahsan Iqbal talking to this correspondent said Pakistan has raised loans’ issue in the standing committee on finance and we will take up this issue in the parliament too.

On the other side, Pakistan has to repay $1.273 billion before 30 June 2019. And before 31st December will have to pay $4.44 billion which also include worth one billion dollar bond which will mature before December this year.




Europe33 mins ago

After Rafale Jets, This Air Force Wants Stealth F-35s That Was Once Meant For Turkey?

While some recent reports indicated that with the arrival of F-35s, UAE cold shed some of its F-16s and sell...

j20-vs-tejas j20-vs-tejas
Asia Pacific2 hours ago

Taiwanese Expert Says ‘Bathrooms Best Place To Hide’ During Chinese Air Raids, Missile Attack

As tensions between China and Taiwan are only increasing day by day, former Ministry of Defense advisor Sung Chao-wen on...

Featured4 hours ago

Indian SU-30 MKI Jets Loaded With BrahMos Missiles Practice Hitting Chinese Assets Far Away From Ladakh

Soaring tensions between India and China in Ladakh has seen both the sides deploying thousands of troops, heavy artillery and...

China-and-India China-and-India
Asia Pacific5 hours ago

India-China War Highly Unlikely; Beijing Only Testing Indian Resilience – Experts

India-China War: The joint statement following the meeting said that ministers had a “frank and constructive discussion on the developments...

imran-khan imran-khan
Featured6 hours ago

India, Pakistan Clash At UNGA – Indian Diplomat Walks Out As Imran Khan Goes All-Out Over Kashmir

India strongly reacted to Pakistan PM Imran Khan's speech at UNGA calling it a 'diplomatic low'. India's envoy to the...

J-10VSF-16 J-10VSF-16
Featured15 hours ago

Next US Intervention In Taiwan & There Would Be No Taiwan – China

Amid suggestions for the United States to deploy its troops to Taiwan, Chinese military experts have warned that any such...

Americas15 hours ago

Donald Trump Or Jared Kushner: Why Son-In-Law Kushner Is A Deserving Candidate For The Nobel Peace Prize Over Trump?

Having brokered the historic normalisation accord between the United Arab Emirates (UAE) and Israel, US President Donald Trump has been...

SU-30 SU-30
Featured20 hours ago

Despite Rafale Jets, Why Su-30s Will Remain The Most Powerful Fighters In The Whole Of Asia?

Russia has won many hearts in India and China with its Sukhoi Su-30SM fighter jets, however, owing to the massive...

Featured21 hours ago

Can PM Modi Correct The ‘Balochistan’ Mistake That India Committed In 1947?

As history suggests, India lost out when the Sultan of Oman offered Gwadar as a gift to India but the...

eurasian-times eurasian-times
Featured22 hours ago

After SU-30 Jet, Now MiG-21 Fighter Jet Crashes In Western District

A Serbian military aircraft crashed Friday in western Serbia, the Defense Ministry confirmed. The ministry said that the MiG-21 military aircraft...