Debt Accumulation and Borrowing Trends
During the week ending June 21, 2024, the GoP added PKR 74.2 billion to its debt burden.
Pakistan borrowed PKR 74.2 billion in debt, as reported by the central bank’s weekly estimates. This brings the total net borrowing for the ongoing fiscal year (FY25) to a substantial PKR 6.68 trillion. Whereas, the government borrowings for fiscal year (FY24) consistently surpassed previous years, reflecting significant financial challenges and funding needs. These borrowings are categorized into three main areas:
1. Budgetary Support: The weekly net borrowing for budgetary support amounted to PKR 72.89 billion.
2. Commodity Operations: Borrowings for commodity operations were PKR 1.6 billion.
3. Others: A total of PKR 292.51 million was retired from other categories during the week (ending on June 21, 2024).
The continued high levels of borrowing underscore the fiscal challenges facing Pakistan, necessitating strategic measures to manage debt sustainability and fiscal discipline. As the fiscal year progresses, monitoring these trends will be crucial for economic stability and growth.
GRAPHIC
“Genocide” (deliberate killing of a large number of people from a particular nation or ethnic group with the aim of destroying that nation or group) is a legal term that has been increasingly used to describe what Israel is doing in Gaza as it continue to kill more Palestinians, despite reaching a heinous figure nearing 40,000. However, Israel is invloved in multiple criminal activities.
According to Al Jazeera, there are various other terms (mentioned below) that aptly describe what Israel is doing Gaza:
Urbicide, killing a city.
Domicide, killing home.
Politicide, killing representation.
Ecocide, killing the environment.
Educide and scholasticide, killing knowledge.
Culturcide, killing a sense of self and identity.
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However, Pakistan ranks quite low on the Global Knowledge Index, placing 109th out of 133 countries in 2023, behind Bangladesh and Vietnam.
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