The country’s external financing needs have risen to 30 30 billion, the former finance minister said

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ISLAMABAD: Former Finance Minister Dr Hafeez A. Pasha has said that the country’s external financing needs have increased to ارب 30 billion in a short span of time. Economist Dr Khaqan Najeeb says Pakistan’s current account deficit could reach 5% of GDP in fiscal year 2022. The problems of Pakistan’s foreign sector have multiplied. According to official figures, Islamabad has to repay a huge amount of 8. 8.638 billion in foreign loans in the second half of the current financial year (December-June). In terms of rupee, repayment of foreign loans has increased by 399% in the last four years. In 2017-18, it was Rs 286.6 billion and now it has reached Rs 1427.5 billion. Pakistan has to repay foreign loans with interest which amounts to more than .4 12.4 billion.


Asad Malik

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