Irrespective of which political party holds power, the national debt remains a crucial talking point when it comes to Pakistan.
Despite gradual improvement in various sectors and the economy growing at an eight-year high, Pakistan still isn’t completely out of the shambles it has found itself in.
“Pakistan’s high level of public debt, with a large portion financed through short-term instruments, does make the sovereign’s ability to meet their financing needs more sensitive to market conditions,” Mervyn Tang, lead analyst for Pakistan at Fitch Ratings Ltd., told Bloomberg.
How serious is the debt issue?
Two websites, Debt Clock and National Debt Clocks have tried to put the ‘debt trap’ in perspective.
Debt Clock
Debt Clock website is doing its part to alert the people about the challenge that Pakistan faces with the looming ‘debt trap.’
The website depicts a real-time counter which highlights Pakistan’s overall national debt. If you stare at the screen for a moment, you can see the numbers increasing drastically.
The Debt Clock also shows Interest and Per Capita numbers.
Pakistan’s current nation debt stands at PKR 22.5 trillion, according to their website.
According to the data gathered by Debt Clock, the numbers imply that every Pakistani has to pay PKR 115,148.41, in order to clear the debt. When put in this perspective, it becomes mind boggling.
National Debt Clocks
However, Debt Clock is not the only website to have taken such an initiative. Another website which has done the same is National Debt Clocks.
The national debt of Pakistan differs here, compared to Debt Clock.
The National Debt Clock also has a much in-depth count on the numbers, which are as following:
- Interest Per Year.
- Interest Per Second.
- Debt Per Citizen.
- Debt as Percentage of GDP.
- Overall GDP.
- Population.
To round the website off, it has also included some remarkable facts which leave you in a state of shock. Such as:
- You could wrap $1 bills around the earth 242 times with the amount of debt Pakistan owns.
- If you lay $1 bills on top of each other they would make a pile 6,797 km, or 4,224 miles high! That’s equivalent to 0.02 trips to the Moon!
The National Debt Clocks source gathers data from Pakistan’s government whereas Debt Clocks have not mentioned any source on their website.
So then, What Imran Khan has done in KPK :)
Buahahahaha Why so serious?
اک واری فیر شیر۔۔۔۔۔۔!
hehehe
Aapki dhihaari Halal hogai! Aik aur naara plz.
Ik Waari Fair Sher. :p
What so ever people will say, what so ever they do, PMLN once again, Courts are with us, Patwari are with us, System is with us, so let say again. Shairrrrrrrrr.
But Allah is against you… so keep watching your destruction from your own eyes
But Evidence is with Imran Khan ;)
Shukar hay ye nahi poocha ke nearest thaanay ke SHO ne ki kia… Pathetic peoples don’t know a Sh*t about National Debt and start talking publicly like champs…. FYI, National Debt is the subject of Federal Government
USA owe double of its GDP to its people, same is China, other EU countries have too much borrowing, this doesn’t determine criteria of economic situation of a country anymore. In fact how life style and standard of living of people is improving is the criteria.
And I thought this is a it related site.
hahaha…it related site or itt (brick) related site.
This should be “thanks to governance”. Please don’t look stupid all the time.
Well that’s not a lot for the urban middle class. For the wealthy, that’s probably chump change. If everyone comes together, we can get rid of national debt within months. Problem is these politicians don’t want that.
ظالمو! میرا حصہ تو دے دو۔
Absolutely WRONG!
I being a Pakistani am not bound to pay this debt. Because this debt hasn’t reached to me or my family or my neighbor or my town or my city or my province or my neighbour provinces or my COUNTRY! NO! NOTHING!
Those who took this debt (PPP/PMLN/PMLQ/PTI/JI/JUI whatever the fu*k) to fatten their as*ses must pay it.
wo kya ofshore company sale kr k pay krain gy? hehehehe
off-shore ho ya on-shore ho. Doesn’t matter. IMF gives these “leaders” to keep the countries as SLAVES and in turn leaders enjoy the money and make laws to keep the country stuck in the old age.
lol…… imf waly dollars e offshore main jaty hain hmary mulk main itna pesa kidr se a gya
Agree all those that have governed this Nation have to pay.
Does anyone know when we as a Nation started to take loans from World Bank/IMF?
Started from Ayub. Then Bhutto. Then Zia. Then so and so on..
Ok, thanks, did not know that.
Include army too and their generals as well.
Read again:
“Started from Ayub. Then Bhutto. Then Zia. Then so and so on..”
The title of article should be changed, thanks to Government nahi. “Laanat to Government”.
Look at the debts of other countries dudes:
USA: Debt per citizen $61,358
India: Debt per citizen $682
Japan: Debt per citizen $70,828
Russia: Debt per citizen $1,033
Canada: Debt per citizen $22,419
China: Debt per citizen $4,055
Pakistan: Debt per citizen $333
It seems we are not the only one under the pool, the whole World lies here.. :P
I am a dual national I have to pay 2 debts.
1 Pakistani and 1 from the UK.
hahaha
In that case your debt is:
Pak Debt: $333
UK Debt: $$30,745
Total in Dollars: 31,078
Total in PKR: 32 lacs 56,819.01
Multiply it with your family dependents and you will have real worthy amount.. :P
I wonder, how could people dare to die owing so much of this debt on them.. :D
wao $333 is nothing in that case :p
Your average earning per capita is lower than 333 dollars. Not everyone can afford 333 dollars.
Wikipedia may 2013. its almost 2017 wake up bro…
Above figures are not from Wikipedia may 2013, they all are real time extracted from nationaldebtclocks.org
115k and just 333 dollars. lol what kind of logic is that?
You are forgetting the exchange rates. Do not be fooled by these dollar values. Pakistan is financing its debt poorly and is failing to hedge them properly as well. All other countries like Japan, US etc indulge in hedging and swapping their loans which allow them to pay their debt quickly and make some profit via interest swapping or at least be break even. Our finance minister is as much incompetent as our leader Nawaz Sharif. Our condition will be worse than Greece and there will be no one to bail us out. Nawaz is running this country like a business and he will eventually file for bankruptcy or some other party will after the election because we are employing more debt for short term gains rather than for long term gains
Don’t mind my language.
Kia India kay elawa kisi bhi aur mulk (jo list main hai) wahan janwaroun ki tarhan zindagi guzaar rhe hain log jaise Pakistan main hashr hai? Middle class khatam honay ko hai. Neechay giray gi woh lower-middle class main.
Ashrafia donoun hathoun se mulk lootay ja rhi hai… Sindh aur Punjab kay ‘baadshah’ ek dosre ko galiyaan detay hoe khae ja rhe hain mulk ko.
Paani nahi hai, light nahi hai, hospitals nahi hain, zindagi ki basic necessities nahi hain aur phir hum ek aisi list post krdetay hain k falan jagah pe bhi to ye masla hai.
Search on this website, India, USA, Japan are more in debt than Pakistan according to their respective GDPs.
Yes, debt is bad but it depends on many other factors as well how much bad it is.
Population size is different l, inflation is different, CPI is different and IPP is different as well so comparing Pakistan with other countries is not quite relevant here. Your average income is lower than 333 dollars and not to mention, only 1%-5% people pay taxes in Pakistan which is extremely low to even service this debt in the next 20 years.
You are right. I also wanted to say that accounting only one factor is not fair. Yes debt is bad but one can not decide by only seeing debt.
And I don’t know much about other factors and their affect.
I am ready to pay my Debt, any takers?
EasyPaisa karoge ya bank account details day doun?
Bank transfer from swiss account (*sarcasm*)
I don’t mind as long as the money reaches without any issue.
Baadshah salamat kay ghulamoun, aa jao bolne kay woh road aur metro bana to rha hai.
Don’t worry “Jab aye ga Imran” this nation will call him “C0caine Khan”
Matlab kay baadshah salamat ko kuch bhi kaho tum log Imran Khan per personal attack krne lag jatay ho.
Kab tak ghulami ki zindagi basar krte raho ge?