Pak 'sinking': Debt rises by over 15%; Gas tariff surges by a staggering 235%

Crisis-hit Pak's total debt increased by 15.3% in the first 11 months of FY22. 44.638 trillion Pakistani Rupees debt in May v/s 38.704 trillion PKR in June 2021. Pak Central Bank's foreign exchange reserves fell by $493MN (week ending June 30). Pakistan's overall foreign exchange holdings also fell to $15.742 billion. Pak caught in a vicious cycle - burgeoning debt hindering recovery & development. Squeezed by inflation, Pakistanis are grappling with tax hikes & spending cuts.