Latest news with #Rs17.573
Economic Times
18-07-2025
- Business
- Economic Times
Pakistan faces $23 billion in external debt servicing this fiscal year
Islamabad: Pakistan will have to pay over USD 23 billion in external debt during the current fiscal year, which began on July 1, according to a media report. Pakistan's total debt was Rs 76.01 trillion at the end of March this year, comprising domestic debt of Rs 51.52 trillion (approx USD 180 billion) and external debt of Rs 24.49 trillion (USD 87.4 billion), according to the Pakistan Economic Survey 2024-25. The USD 87.4 billion external public debt consists of two components: government external debt and debt obtained from the International Monetary Fund (IMF).The News reported that out of the total USD 23 billion in external debt servicing in 2025-26, there are temporary deposits of USD 12 billion by friendly countries, with the expectation of securing a rollover from deposits include USD 5 billion from Saudi Arabia, USD 4 billion from China, USD 2 billion from the UAE and about USD 1 billion from Qatar. However, the country will still have to repay around USD 11 billion in external debt servicing to multilateral, bilateral creditors, international bondholders, and commercial lenders in the current fiscal situation can worsen if friendly countries refuse to grant rollovers on their deposits, which would make it compulsory for the government to make of the major payments during the current fiscal include two bond repayments of USD 1.7 billion, commercial loans of USD 2.3 billion, multilateral creditors' repayment of USD 2.8 billion from the World Bank, the Asian Development Bank, the Islamic Development Bank, and the Asian Infrastructure Investment Bank and bilateral loans repayment of USD 1.8 shows that, despite claims of an economic turnaround by the current government led by Prime Minister Shehbaz Sharif, the country is mired in local and external debts that it needs to pay annually. Currently, the debt payment is the single largest expenditure of the annual budget. Pakistan allocated Rs8.2 trillion for domestic and external debt servicing in 2025-26, which is 46.7 per cent of the total federal budget of Rs17.573 trillion.
News18
18-07-2025
- Business
- News18
Pakistan faces USD 23 billion in external debt servicing this fiscal year
Agency: PTI Last Updated: Islamabad, Jul 18 (PTI) Pakistan will have to pay over USD 23 billion in external debt during the current fiscal year, which began on July 1, according to a media report. Pakistan's total debt was Rs 76.01 trillion at the end of March this year, comprising domestic debt of Rs 51.52 trillion (approx USD 180 billion) and external debt of Rs 24.49 trillion (USD 87.4 billion), according to the Pakistan Economic Survey 2024-25. The USD 87.4 billion external public debt consists of two components: government external debt and debt obtained from the International Monetary Fund (IMF). The News reported that out of the total USD 23 billion in external debt servicing in 2025-26, there are temporary deposits of USD 12 billion by friendly countries, with the expectation of securing a rollover from them. Temporary deposits include USD 5 billion from Saudi Arabia, USD 4 billion from China, USD 2 billion from the UAE and about USD 1 billion from Qatar. However, the country will still have to repay around USD 11 billion in external debt servicing to multilateral, bilateral creditors, international bondholders, and commercial lenders in the current fiscal year. The situation can worsen if friendly countries refuse to grant rollovers on their deposits, which would make it compulsory for the government to make payments. It shows that, despite claims of an economic turnaround by the current government led by Prime Minister Shehbaz Sharif, the country is mired in local and external debts that it needs to pay annually. Currently, the debt payment is the single largest expenditure of the annual budget. Pakistan allocated Rs8.2 trillion for domestic and external debt servicing in 2025-26, which is 46.7 per cent of the total federal budget of Rs17.573 trillion. PTI SH NSA NSA NSA NSA view comments First Published: July 18, 2025, 13:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Recorder
30-06-2025
- Business
- Business Recorder
Rupee largely stable
KARACHI: Rupee remained largely stable against the US dollar in the inter-bank market during the previous week. The local unit closed at 283.72, marginally lower by Rs0.02 or 0.01% against 283.70 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). In a key development, foreign exchange reserves held by the SBP decreased by record $2.66 billion on a weekly basis, clocking in at $9.06 billion as of June 20. This was the biggest weekly decline in SBP reserves in over 3 years. The central bank's reserves had previously declined by $2.9 billion back in March 2022. However, SBP has received the GOP commercial loans equivalent to $3.1 billion; and multilateral loans of over $500 million, according to the central bank. 'These inflows will be reflected in SBP's FX reserves for the week ending on 27-Jun-2025,' SBP said. Meanwhile, the National Assembly (NA) passed the federal budget during the previous week for the next fiscal year (2025-26), with a total outlay of Rs17.573 trillion, focusing on sustainable and inclusive economic growth. The budget projects an economic growth rate of 4.2% and an inflation rate of 7.5% for the next financial year. Pakistan and the World Bank reaffirmed their development partnership during high-level consultations in Washington, D.C., with both sides committing to the effective implementation of the newly launched $40 billion Country Partnership Framework (CPF) 2026–2035. Open-market rates In the open market, the PKR lost 72 paisa for buying and 36 paisa for selling against USD, closing at 284.95 and 286.10, respectively. Against Euro, the PKR lost 6.51 rupees for buying and 6.00 rupees for selling, closing at 333.01 and 335.45, respectively. Against UAE Dirham, the PKR lost 32 paisa for buying and 7 paise for selling, closing at 77.65 and 78.10, respectively. Against Saudi Riyal, the PKR lost 32 paise for buying and 10 paise for selling, closing at 75.97 and 76.40, respectively. ========================================= THE RUPEE ========================================= Weekly inter-bank market rates for dollar ========================================= Bid Close Rs. 283.72 Offer Close Rs. 283.92 Bid Open Rs. 283.70 Offer Open Rs. 283.90 ========================================= Weekly open-market rates for dollar ========================================= Bid Close Rs. 284.95 Offer Close Rs. 286.10 Bid Open Rs. 284.23 Offer Open Rs. 285.74 ========================================= Copyright Business Recorder, 2025
Business Recorder
26-06-2025
- Business
- Business Recorder
National Assembly passes Rs17.57trn federal budget for FY2025-26
The National Assembly (NA) passed on Thursday the federal budget for the next fiscal year (2025-26), with a total outlay of Rs17.573 trillion, focusing on sustainable and inclusive economic growth, state-run Radio Pakistan reported. A motion to this effect was moved by Minister for Finance Muhammad Aurangzeb. The House passed the Finance Bill, 2025 with certain amendments, giving effect to the financial proposals of the federal government for the year beginning on the July 1, 2025. Key highlights of Pakistan budget for 2025-26 The budget projects an economic growth rate of 4.2% and an inflation rate of 7.5% for the next financial year. The net revenue receipts is estimated at Rs11.072 trillion. The Federal Board of Revenue (FBR) collections are estimated to be Rs14.131 trillion, 18.7% higher than the outgoing fiscal year (2024-25). Non-tax revenues will be Rs5.147 trillion. As per the details, Rs2.550 trillion have been earmarked for defense, Rs1.055 trillion for the pension expenditures and Rs1.186 trillion for subsidy on electricity and other sectors. The main relief features include 10% increase in salaries, 7% in pensions and tax relief for the salaried class across all slabs. Moreover, Rs716 billion have been allocated for Benazir Income Support Programme. The government has allocated Rs1 trillion for the Public Sector Development Programme (PSDP). The biggest amount of Rs328 billion has been earmarked for transport infrastructure projects. The PSDP portfolio for next fiscal year has been aligned with the objectives of URAAN Pakistan, while priority has been attached to high impact, near completion, foreign funded projects and new initiatives of national importance, according to Radio Pakistan. It reported that Rs32.7 billion have been earmarked for Diamer Bhasha, Rs35.7 billion for Mohmand Dam, Rs3.2 billion for K-IV, Rs10 billion for lining of Kalri Baghar Feeder and Rs4.4 billion for installation of telemetry system on Indus Basin System. The Higher Education Commission will be given Rs39.5 billion for one hundred and seventy projects, and Rs18.5 billion have been set aside in the PSDP for various education projects. Around Rs4 billion have been allocated for ten ongoing and five new schemes in the agriculture sector. The budget encapsulates incentives for the construction industry, which include reduction in withholding tax on purchase of property, Radio Pakistan reported. The House will now meet tomorrow at eleven in the morning.
Express Tribune
12-06-2025
- Business
- Express Tribune
Assured confusion
Listen to article This is perhaps the first budget in history which is at the cusp of a mini-budget even before being legislated. The euphoric order that it has laid by forecasting growth at 4.2% – at a time when all plum chips of production, agriculture, exports and FDIs are in disarray and tax collection is stagnated – is nothing but a proposition jotted down in economic non-viability. Moreover, the Rs17.573 trillion layout categorically suggests that it will come down hard on spending, having already gone to the extent of unduly taxing revenue generating digital marketplaces, solar panels, cars and fuel, as well as agrarian tractors. The point is that there is a serious flaw in budget-making, and the finance minister's proposal to raise new taxes to the tune of Rs432 billion is in doldrums. The obstacle has come from forces of status quo and they are the parliamentarians themselves! The warning from the finance wizards that revenue numbers are already locked with the IMF, and in case of non-legislation of the proposed "restrictions on economic transactions by ineligible persons lacking sufficient financial resources", the government will have to impose an additional Rs500 billion worth of new taxes. This is where the supra-mini budget is on the cards. So, what's next? And what if the IMF refuses to listen to our pathetic post-budget tale? Under a deal, as the second tranche of loan was released, the Fund was assured that at least Rs389 billion worth of new taxes should be raised through "enforcement measures", which is not possible without new legislation. The relevant House committee is already raising a hue and cry, and the prevalent partisanship in the coalition makes it an untenable order. The government has exhibited selectiveness by unnecessarily appeasing the parliamentarians with a six-fold increase in salaries, and raising their developmental funds to the tune of Rs70 million each. For them, the FinMin acted as the devil's advocate too. On the other hand, the government slapped a 2.5% deductable tax on the first slab of salaried class and failed to raise minimum wages this year. This waywardness is toiling and pushes the budget to the cliff.
