Govt retires $16.4 billion external debt in last two years: Senate informed.

ISLAMABAD -- Minister for Industries and Production Hammad Azhar on Friday informed the Senate the government has paid US $16.4 billion towards external debt and Rs19.9 trillion towards domestic debt during the last two years.

Responding to various supplementary questions during Question Hour, the minister said record debt servicing was done during the last two years. The government was retiring US $10 billion debt annually, he added.

To another question, he said that the country's foreign exchange reserves have increased to US $20 billion despite record debt servicing.

He said State Bank of Pakistan (SBP) has foreign exchange reserves of $ 12-13 billion. The reserves have increased due to improvement in exports and...