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Home / Business / Govt takes record loans of 42% of GDP amounting to Rs10,907b from banks
Govt takes record loans of 42% of GDP amounting to Rs10,907b from banks

Govt takes record loans of 42% of GDP amounting to Rs10,907b from banks

ISLAMABAD: PML-N led government has obtained record loans amounting to Rs 10907 billion during the current fiscal year breaking all the previous records.

A recent report published by State Bank of Pakistan (SBP) has revealed that government has secured loans with the proportion of 42.09 percent of GDP during the ongoing financial year.

The government had made borrowings to the extent of Rs 9521 billion from banks during the previous fiscal year. Former government had acquired loans to the tune of Rs 7683 billion from banks. Gillani government had secured loans worth Rs 6012 billion in 2011.