Canada Global (Web News) With reference to the data released by the State Bank of Pakistan, it has been said that the government borrowed 35 trillion 85 billion rupees during the period from July 1 to December 8, in the entire fiscal year 2023. A total of 37 trillion rupees loans were taken.
Banks are investing more cash risk-free, as the government continues to borrow heavily despite rising revenues. In the last auction on December 13, the government received Rs 46 trillion from banks and other corporate investors. 26 trillion. The government is reportedly cutting the Public Sector Development Program (PSDP) to cut costs. Despite record borrowing, the government plans to cut development spending.
which is an important factor for the growth of the economy. In November, the Federal Board of Revenue said that it has collected more than the target of Rs 26.80 billion and Rs 537 billion respectively for five months and November. 29 percent inflation. Due to the increase in the price of everything, the government expenditure has also increased. An analyst said that due to high inflation, the government is also facing difficulties as its expenditure has also increased.
