Debt crosses Rs1.7 trillion mark

[quote]ISLAMABAD, July 20: Pakistan's total outstanding domestic debt has crossed Rs1.787 trillion mark on May 31, 2003, up by about Rs70 billion, from Rs1.718 trillion in June 2002. The rise in debt has taken place despite reduced interest rates and government's claims that "accumulation of domestic debt has been brought to a stop" through fiscal discipline. ....The domestic debt servicing in Pakistan consumed more than 66 per cent of total revenue, leaving very little fiscal space for development spending, social sector and physical infrastructure spending. >>[url=http://www.dawn.com/2003/07/21/top7.htm]Dawn[/url] [/quote]