KARACHI: Government borrowings doubled during 2007 to 2010 and surged to the level of Rs10,200 billion at the end of the last financial year 2009-10, said the State Bank of Pakistan in its Economic Review for the previous financial year.
It said that the amount borrowed by the Government climbed to 10,200 as on June 30, 2010.
The Review said cited increase in financial deficit as the prime reason for the rise in government borrowings. The government borrowings stand at 69.5 per cent of the GDP.
The government practice in regard to its increased level of borrowings defies the law in connection with cutting down lending.
It said that the amount borrowed by the Government climbed to 10,200 as on June 30, 2010.
The Review said cited increase in financial deficit as the prime reason for the rise in government borrowings. The government borrowings stand at 69.5 per cent of the GDP.
The government practice in regard to its increased level of borrowings defies the law in connection with cutting down lending.
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