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Pakistan’s foreign debt surged by $60b from 2008-18: Fawad Chaudhry

Pakistan’s foreign debt surged by $60b from 2008-18: Fawad Chaudhry

ISLAMABAD: Information Minister Fawad Chaudhry said on Tuesday Pakistan’s country’s foreign debt from 2008 to 2018 increased substantially by $60 billion reaching $97 billion from $37 billion.

In an early morning tweet, the minister said several mega projects were executed until 2008, which included the development of Islamabad and construction of Tarbela and Mangla dams, naval bases, Gwadar and motorway besides equipping the armed forces with modern weapons.

“The amount of the heavy debt was later distributed between the Sharif and Zardari families. A model of Hudabiya fraud was used repeatedly by both the families,” Fawad claimed.

He insisted, “The money was sent abroad illegally through Hundi and Hawala (illegal money transfer) means and fake accounts were also used for the purpose.”

The minister added, “Nawaz Sharif, Shahbaz Sharif and Asif Ali Zardari are the main characters of this drama while there are dozens of others who played a side role in it.”

In another tweet, Fawad criticised Pakistan Muslim League-Nawaz (PML-N) supremo and said, “The Supreme Court was told that if Nawaz Sharif was not granted bail, his disease may worsen. But a lie was told as usual.”

“Jamiat Ulema-e-Islam-Fazl (JUI-F) Chief Maulana Fazlur Rehman has reached now to meet Nawaz Sharif and give him political oxygen,” the information minister said. Fawad also urged the court to take notice of the matter.