Govt borrows Rs1.8 trillion from banks in less than four months

WEB DESK: The government has undertaken substantial borrowing, amounting to Rs1.8 trillion from scheduled banks between July 01 and October 06, 2023.

A closer look at the provincial breakdown reveals that the Punjab government secured loans of Rs55.9 billion, while the Khyber Pakhtunkhwa (KP) government borrowed Rs35.1 billion within the specified timeframe.

In contrast, both the Balochistan and Sindh governments exhibited a prudent financial approach by reducing their debt.

Baluchistan reduced its debt by Rs35 billion, and Sindh retired Rs5 billion, resulting in a combined decrease of Rs40 billion.

Meanwhile, the private sector demonstrated fiscal responsibility during the review period by retiring a significant sum of Rs291 billion in debt.

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This dynamic financial landscape highlights the diverse borrowing and repayment strategies employed by different entities within the country.