Per Capita Public Debt touches Rs2,16,709
March 27, 2023 08:31 PM
Minister of State for Finance Aisha Ghaus Pasha Monday disclosed that the per capita public debt was Rs 216,709 in June 2022.
During the Question Hour in National Assembly, she answered queries and informed that Pakistan maintained a debt-to-GDP ratio of 73.5 per cent while the country's total public debt will be Rs 52,721 billion through December 2022, comprising Rs 33,116 billion in domestic debt and Rs 19,605 billion in overseas debt.
In response to another question, the minister stated that the government was committed to an interest-free economy and that the State Bank was working with the Finance Division to develop a policy for the adoption of interest-free banking.
She noted that a committee had been formed and that discussions were underway to develop a transformational plan in this regard.
According to the minister, Islamic banking has seen significant growth in the country in recent years.