Today, each Pakistani is below Rs 153,689, with debt that rose by 28 percent per capita at the end of the fiscal year. The Minister of Finance has debted 212.8 million per capita debt, projecting an annual population growth of 2.4 per cent.
The Ministry of Finance releases the numbers when it tells the National Assembly that public debt continues to rise after all the budget goals have been missed. Details were reported in the annual Fiscal Policy Report of the Government.
Last year, the per capita debt had been recorded at Rs24.9 trillion and the Ministry of Finance at that time worked out the per capita debt at Rs120,099. The resultant 28% increase has amounted to Rs33,590 per capita debt.
This means that the Pakistan Tehreek i Insaaf (PTI) government has followed in the footsteps of its predecessor, the Pakistan Muslim League Nawaz (PML-N) federal government, by breaching the debt reduction limits set in the Fiscal Responsibility and Debt Limitation Act of 2005.
The PTI government presented its annual Fiscal Policy Statement to the National Assembly as per the act, which has revealed the climbing rate of per capita debt.
The fiscal policy statement showed that the total public debt was recorded at Rs32.7 trillion at end June 2019, resultantly, public debt per capita stood at Rs153,689 at end June 2019.US top envoy Zalmay Khalilzad held important meeting with COAS General Qamar Bajwa
However, if we take September 2019 debt level, the per capita data has further increased to over Rs160,000 per person.
