Prime Minister Imran Khan while chairing a meeting of the federal cabinet instructed the Finance Ministry on Thursday to conduct an analysis of how Pakistan’s debt increased from $6,000 billion to $30,000bn in the span of 10 years.
“We need to know where that money went and what projects it was used in. Our government has just come in and we have been forced to take loans to pay off the loans that they [the previous governments] took. At least we should know where those loans went,” the prime minister said.
“This analysis is also important as our government, which sees that the country is already in debt, will have to think twice about taking more loans. We will at least have to see that the loans that we take create more wealth so that they can be returned,” he added.
PM Khan directed the Finance Ministry to present its detailed analysis on the matter in another cabinet meeting.
According to Radio Pakistan, the federal cabinet is expected to take important decisions including the appointment of heads of Pakistan International Airlines (PIA) and the Privatisation Commission.
More to follow