Pakistan’s financial meltdown may dampen euphoria over Taliban’s gains in Afghanistan

<p>
As Pakistan gloats over the Taliban taking control of Afghanistan, the country under Prime Minister Imran Khan has <a href="https://tribune.com.pk/story/2317825/public-debt-swells-to-rs399tr">added Rs 149 trillion in debt</a> in just the last three years . This is even more ironic as one of the main promises made by Khan was to reduce debt.</p>
<p>
The State Bank of Pakistan (SBP) data showed that the public debt increased to Rs39.9 trillion by June this year, which is an addition of Rs14.9 trillion in just three years.</p>
<p>
The Pakistan Tehreek-e-Insaf (PTI) government has added on an average Rs 13.6 billion a day to the public debt, “which was more than double the daily average addition of Rs5.8 billion by the PML-N government, the Express Tribune said.</p>
<p>
<strong>Also read: <a href="https://www.indianarrative.com/world-news/pak-isi-chief-in-kabul-to-sort-out-fight-between-taliban-and-haqqani-groups-over-govt-posts-112594.html">Pak ISI chief in Kabul to sort out fight between Taliban and Haqqani groups over govt posts</a></strong></p>
<p>
The International Monetary Fund (IMF) debt that was $6.1 billion three years ago has jumped to $7.4 billion by June this year, according to the central bank, the newspaper said.</p>
<p>
A few analysts said that the country may have to turn to the west and even the US for financial help.</p>
<p>
In fact, faced with huge debts, Islamabad put Khan’s official residence on rent. Khan had to move to another residence in 2019 after the PTI government announced that it planned to convert the Prime Minister's House into a university. However, the plan has been shelved and the government has now decided to rent it out.</p>