Pakistanis Now Owe Over Rs 325,000 Per Person, Senate Committee Told

Islamabad: In a meeting of the Senate Standing Committee on Economic Affairs chaired by Saifullah Abro, officials briefed lawmakers on Pakistan’s rising debt, including both foreign and domestic obligations.

According to the briefing, Pakistan’s total debt stands at PKR 81 trillion, with PKR 26 trillion as external debt and PKR 55 trillion as domestic debt. With a population of 250 million, this translates to over PKR 325,000 owed per citizen.

Saifullah Abro emphasized the need to boost exports and reduce imports, questioning why export incentives are not being prioritized. He cited Iraq as an example, saying that despite its history of conflict, the country now produces more domestically and imports less.

“The country is collapsing under mounting debt. We need policies that increase exports and reduce borrowing,” Abro said.

Finance Ministry officials stated that all loans are repaid along with interest, including both external and domestic debt. When asked how such large amounts of debt could be repaid, the officials admitted that new loans are used to pay off old loans, prompting laughter in the committee.

Abro also criticized the misuse of funds allocated to MNAs, questioning how PKR 50 million disbursed to them could be spent in just seven days, and urged stricter accountability for public funds. He called for action against banks that misused PKR 65 billion from the national treasury.