ISLAMABAD: Federal Minister for Finance and Revenue, Muhammad Aurangzeb, informed the National Assembly on Monday that Pakistan's total debt has reached Rs71.3 trillion, which represents 67.4% of the country's debt-to-GDP ratio as of June 2024.

In a written response to a question, Aurangzeb detailed that out of the total debt, Rs24.1 trillion is external debt, while Rs47.2 trillion is domestic debt as of June 2024. He emphasized that reducing the external public debt would require maintaining a zero current account deficit or a positive account balance before interest, alongside achieving higher foreign exchange earnings (FEE) in comparison to the interest rate on external debt. This strategy, he explained, would help gradually reduce the external debt burden. Aurangzeb further highlighted that Pakistan's current account posted a surplus of $944 million during the first five months of the current fiscal year (5MFY 25), a significant improvement compared to a deficit of $1.676 billion during the same period last year. This surplus is seen as a positive indicator of Pakistan's economic performance and its ability to manage external financial obligations. In another written reply to a separate query, Minister for Commerce, Jam Kamal Khan, informed the House about the country's citrus fruit exports during the period from July to December 2024-25. Pakistan exported a total of 105,690.3 metric tons (MT) of citrus fruits, generating $30.9 million in revenue. The largest export destination was Afghanistan, which imported 77,547.44 MT, contributing $16.72 million, accounting for over 54% of the total revenue. The United Arab Emirates (UAE) and Indonesia were also significant contributors, with the UAE importing 9,173.09 MT, generating $3.99 million, and Indonesia importing 6,384.01 MT, contributing $3.3 million. Regarding mango exports, Khan shared that Pakistan exported 17,031 MT of mangoes to the UAE, earning $10.58 million, while the UK imported 4,783 MT, generating $17.97 million. These two countries were the largest importers of Pakistani mangoes during this period. Meanwhile, the Minister of State for Finance, Ali Pervaiz Malik, addressed concerns raised by Pakistan Tehreek-e-Insaf (PTI) lawmakers regarding the country's undocumented economy, limited tax base, and reliance on regressive taxation. Malik stated that the government had developed a comprehensive plan to tackle these issues, with tax system reforms being a major priority area. He mentioned that Prime Minister Shehbaz Sharif had approved a transformation plan for the Federal Board of Revenue (FBR) and that efforts were underway to enhance the capacity of both the FBR and Customs departments. The session saw continued protests from PTI lawmakers on the sixth consecutive day of their protest in the National Assembly. The opposition members created a commotion by throwing torn copies of the agenda and chanting slogans calling for the release of their leader, Imran Khan.  The protest began during the question hour when the opposition leader sought the floor to speak. Speaker Ayaz Sadiq informed him that he would be granted the floor after the question hour. In response, PTI lawmakers disrupted the session by thumping desks and chanting slogans.  They later staged a walkout from the House, although one member, Mehboob Shah, remained to point out the lack of quorum. After counting, the speaker declared the House in disorder, leading to its adjournment for the completion of quorum. However, after a brief break, the session resumed, and the speaker adjourned the proceedings until Tuesday, as quorum issues persisted.