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PTI-Led Government Rejects Opposition Claims on Public Debt
Information Minister Shibli Faraz. Courtesy PID
Information minister reiterates claims of having to take out fresh loans to repay loans taken by previous governments
Accusing the opposition of resorting to negative propaganda, Information Minister Shibli Faraz on Wednesday reiterated the Pakistan Tehreek-e-Insaf-led government’s claims of having to take out fresh loans to repay loans taken by previous governments.
Addressing media after a meeting between the ruling party and its allies in Parliament, he said the Rs. 11.3 trillion the PTI had added to the public debt in its first two years in power could be explained very “transparently.” Providing a breakdown to the press, he claimed that around Rs. 6 trillion of the new debt had been utilized on repaying old loans and the interest accrued on them. Of the remaining amount, Rs. 3 trillion was “lost” due to the devaluation of the Pakistani rupee under the PTI’s