KARACHI: The government debt in the first quarter of current fiscal year went up by Rs1.461 trillion or 4.6 per cent to Rs33.248 trillion from Rs31.786tr at the beginning of current fiscal year.

The latest data released by the State Bank of Pakistan showed government’s dependence on borrowing increased substantially during the quarter under review.

The increase comes on the back of government’s increasing dependence on borrowing to meet its current expenditure. The increase has created serious problems for the government to remain within its own target for the fiscal deficit while the International Monetary Fund is also critical about the widening deficit.

In the first quarter of current fiscal year, the budgetary borrowing jumped five times higher than the same period last fiscal year.

Published in Dawn, November 10th, 2019