Muhammad Usman
Gone are the days when Punjab had a total debt of Rs5.68 trillion under the PML-N government as the amount has now surged to Rs9.45 trillion, representing around 35 percent increase in just two-and-half years. And despite this alarming trend, the PTI government in the province is persevering and eyeing more as a committee has been formed to obtain Rs47 billion loan from the World Bank. Headed by Planning and Development Secretary Imran Sikandar Baloch, this committee will hold talks and ink an agreement with the World Bank after formalising terms and conditions for the purpose. Meanwhile, officials from finance and law departments are also part of the committee.
The stated purpose of this loan is introducing reforms in development and organisations’ budgets. As far as the increase in loan since the PTI came into power after 2018 general elections is concerned, official documents show that the amount borrowed since then currently stands at over Rs3.37 trillion.
