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PTI govt paid back record $20b debt: PM Imran Khan

Morpheus

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PTI govt paid back record $20b debt: PM Imran Khan
Web Desk On Feb 18, 2021
PM Imran Khan


ISLAMABAD: Prime Minister (PM) Imran Khan has said that the Pakistan Tehreek-e-Insaf (PTI) government has paid back a record $20 billion debt in two and half years, ARY News reported.

Addressing a ceremony in connection with Roshan Digital Account crossing five hundred million dollars mark in remittances in Islamabad, PM Imran Khan said the country is overburdened due to record debts taken by the previous governments.

The prime minister expressed his pleasure over the record increase in the country’s exports at a time when the economies around the world were badly affected by the breakout of the pandemic.
He said our exports have been more than our competitors including India and Bangladesh and added our textile sector is witnessing a boom and new textile mills are being opened.

Terming overseas Pakistanis, the country’s biggest asset, he thanked them for bestowing their trust in the Roshan Digital accounts.
The premier said as many as 88,000 thousand overseas Pakistanis hailing from 97 countries of the world opened Roshan Digitial Pakistan accounts.

“Many Pakistani expats are still unaware about the program,” said the PM Khan and urged upon the need for the campaign on the electronic media to aware them of Roshan Digital Accounts.
The common people are overburdened due to the devaluation of the currency. We are taking the economy in the right direction. The past governments only given relief to the elites, he observed.

Roshan Digital Accounts

According to the SBP statement, the simplification of the taxation regime will give a further boost to the Roshan Digital Account scheme, which has already attracted considerable inflows from NRPs in the five months since it was launched.
The RDA is a flagship initiative of State Bank aimed at connecting overseas Pakistanis with Pakistan’s banking and payment system. Looking ahead, the SBP will continue its efforts towards making the policy, regulatory, business and taxation environment around RDA investor-friendly

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As long as Pakistani's external debt is raising instead of coming down, then all Imran is doing is taking loans to pay off loans. How does it matter how much he paid the debt when he paid it by borrowing? Let me know if Pakistan's external debt has come down because of it.
 
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As long as Pakistani's external debt is raising instead of coming down, then all Imran is doing is taking loans to pay off loans. How does it matter how much he paid the debt when he paid it by borrowing? Let me know if Pakistan's external debt has come down because of it.

Actually you raised a very valid point. What is done is the pace of increase in debt has significantly reduced after very hard decisions taken by government.


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Now we can clearly see the last quarter Pakistan debt just increased by $1.6b or 1.8% and has actually fell in terms of % of GDP. Mostly interest payment.

Moving on to the 2nd table. Now compare the trend from FY2016-2018 the amount of debt increased + $9b decrease in foreign reserves.
From FY2019-2020 total debt accumulated + $6-7b increase in foreign reserves. In addition to this factor in the almost double the amount of interest payment between the 2 time periods.

This is an exceptional turnaround. This has lead to economic stability.
 
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Question remains .. how long we pay such massive interest on these debts ... We have the worst taxation system. Whole tax department compose of corrupt... imagine if you go to tax office during Zohar time.. you will hear ... sahib namaz parna gayee howa haan ......... akaar rishwat laan ga... bureaucrats have 4 mulazim , 4 cars ...bungalow and luxuries list never ending ...
 
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Credit where it's due. WELL DONE to IK and PTI. This would NEVER HAVE HAPPENED under nawaz-not-so-sharif and zardari/bhutto.
...........Rather than lambasting IK and PTI, Let's ALL get behind them for the betterment of Pakistan!!!!!!............We don't care if you are religious, liberal, centrist etc. We don't care if you are not even a Muslim. Let's all unite to make Pakistan a powerful and successful nation...........:pakistan:
 
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Credit where it's due. WELL DONE to IK and PTI. This would NEVER HAVE HAPPENED under nawaz-not-so-sharif and zardari/bhutto.
...........Rather than lambasting IK and PTI, Let's ALL get behind them for the betterment of Pakistan!!!!!!............We don't care if you are religious, liberal, centrist etc. We don't care if you are not even a Muslim. Let's all unite to make Pakistan a powerful and successful nation...........:pakistan:
bhai hamari quam aysi ha ...ya pheeer ........... Nawaz or Zardari ko laa kar ayaan gaa ..... dynastic politics is curse on our nation. and somehow we are victim of " nazaria e zaroorat " ....
 
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unless we know what were our net external debt when PTI govt took office and then what are our net external debts now, we don't believe this claim.
 
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bhai hamari quam issi ha ya pheeer ........... Nawaz or Zardari ko laa kar ayaan gaa ..... dynastic politics is curse on our nation. and somehow we are victim of " nazaria e zaroorat " ....


Let ALL PAkistanis of ALL beliefs, religions, ethnicities, classes etc, ALL unite for the betterment of Pakistan!......... :pakistan: :pakistan: :pakistan: :pakistan:
 
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Is this official or just a political statement given to the mukti tigers?
 
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