Rs 2.24 trillion rise is observed in the federal government debt in the duration of just 5 months.
Federal government debt hit Rs26.5 trillion after observing an increase of Rs2.24 trillion in 5 months. According to financial analysts, the main reasons are the rupee devaluation and shortfall in revenues.
Last year, from July to November, the federal government debt increased by Rs15 billion per day. According to State Bank of Pakistan or SBP, In 5 months, 3.5 months are of Pakistan Tehreek-e-Insaf or PTI government.
SBP data revealed that the debt of federal government collected from the central bank increased at the alarming rate of 87% in 5 months. However, it was at record Rs6.73 trillion at the end of November last year.
In addition, the external debt of the federal government increased by 17% and reached at Rs9.12 trillion. On the other side, there was the net increase of around Rs1.33 trillion in the huge external debt. However, it is due to the 15.4% currency depreciation from July 2018 to November 2018.