Govt borrowed Rs147b in third week of March

By: News Desk      Published: 05:31 PM, 1 Apr, 2020
Govt borrowed Rs147b in third week of March

The government is resorting to heavy borrowing, as the State Bank says that it has borrowed an amount of Rs147.29 billion from the banking sector in the third week of March to meet the budget expenses.

Out of this newly-obtained loan, Rs117.11 billion was from commercial banks and Rs30.18 billion from the State Bank.

In the current fiscal year, the PTI government has so far obtained a total amount of around Rs15 trillion [Rs1,498,180,000,000 to be exact] as loan.

This practice is unlike the ruling party’s criticism of the previous government over borrowing. In fact, ending the dependency on foreign and domestic loans was the main feature of its election campaign.