"According to recent reports, Pakistan's international debt burden has been steadily increasing and has reached Rs 63,966 billion in the fiscal year 2023-24 as of the end of August. This was revealed during a briefing session on the country's debt situation. Foreign debt increased to $24,174 billion while domestic debt increased to Rs 39,791 billion during the same period. Total debt has increased significantly by Rs 14,506 billion during the last year.
Comparatively, in August 2022, the volume of debt was a more modest Rs 49,571 billion, with external debt at $18 trillion and domestic debt at Rs 32,152 billion.
Additionally, the International Monetary Fund (IMF) has asked Pakistan to prepare a tax collection plan to collect Rs 6,670 billion by June 2024. Annually (July to September). The IMF team emphasized the importance of meeting the tax collection targets of the Federal Board of Revenue (FBR) and sought a detailed report on tax cases pending in courts. Additionally, FBR has shared information about one million new taxpayers joining the tax net and discussed plans to increase the number of taxpayers from the current 4.9 million to 10 million."
Read more....On the first business day of the week, Pakistan Stock Exchange (PSX) performed
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