ISLAMABAD (Staff Report) – The National Assembly of Pakistan has been informed that over Rs78 billion worth of loans were written off by all banks and Development Financial Institutions during the last five years.

Responding to different queries the Parliamentary Secretary for Finance Rana Muhammad Afzal said that that the number of tax payers has gone up from 711000 to over one million during the last two years.

He informed the house that loans worth 24.844 billion dollars are payable by the country to the World Bank, Asian Development Bank, Islamic Development Bank and International Fund for Agricultural Development.

He said net domestic loans borrowed by the present Government are about 2760 billion rupees. Debt servicing on these loans is 650 billion rupees.