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How much is the total debt of Pakistan and how much do you owe as a citizen?

11:39 PM | 5 Oct, 2023
How much is the total debt of Pakistan and how much do you owe as a citizen?

Pakistan has a staggering Rs64 trillion worth of internal and external debt, according to the data released by the State Bank of Pakistan (SBP). 

This implies that each Pakistani citizen owes Rs250,000.

The SBP released data on the loans the federal government had taken on Thursday.

According to the data, the federal government took a fresh loan of Rs2.218 trillion in August 2023.

As a result, local loans to Pakistan have climbed by 24% to a total of Rs39.792 trillion.

In the same vein, the country's external debt burden rose from 39% to Rs24.175 trillion.

The SBP numbers reveal that in the first two months of the current fiscal year, the cost  of the federal government's debt servicing jumped by 44% to Rs1.534 trillion.

The nation's economy is seriously threatened by the rising level of its debt.

The government's budget is under pressure due to the high cost of servicing this debt, which makes it challenging to fund important initiatives like healthcare and education.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207.1 209.1
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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