PK Ventures

Pakistan can win back the power to choose.

Our first goal as the Youth of Pakistan should be to cut Pakistan's public debt owed abroad by as much as possible, as soon as possible. Ideally, we reach zero by 2040.

See our first goalSee how to help

Our first debt goal

March 31, 2026

USD 92B

Public debt owed to lenders outside Pakistan. Ideal: USD 0 by 2040.

How did we get here?

Pakistan chose to borrow.

Pakistan asked for loans to meet needs and wants it could not pay for from its own income. Lenders gave Pakistan the money. They helped fund plans that Pakistan chose. Some plans were useful. Some cost too much, took too long, or were not the best use of scarce money. That is our problem to fix as citizens of Pakistan. No one else can own it for us, no matter how unfair it may feel. We choose to take responsibility and act.

Pakistan's Planning Commission says 90% of ongoing federal projects had revised time or cost plans. It links much of this problem to spreading money across too many projects. We should choose fewer, better projects and finish them well.

Some foreign-financed projects

These examples show some of what Pakistan built, improved, or is still building with foreign financing. They do not add up to the full USD 92B. That total also includes budget help, emergency help, older projects, and loans used to manage past payments.

What does greater financial freedom mean?

It can mean three things. Each goal gives Pakistan more room to choose. Each goal also leaves some limits in place.

  1. 1Our first goal

    Freedom from foreign lenders

    Goal: Cut the selected USD 92B of public debt owed abroad by as much as possible, as soon as possible. Ideally, reach zero by 2040.

    What this gives us

    The government gets more room to put people first when it sets taxes, power prices, and public spending. Young people get more room to learn, work, and build without emergency loan terms shaping daily life.

    What still limits us

    We would still owe large lenders at home. We would still need dollars for fuel, medicine, and machines. Bad budgets could still hurt people.

  2. 2

    Freedom from taxes and inflation

    Goal: Reduce taxes and money printing used to cover waste, weak systems, and the wrong priorities. Keep with the federal government. Move other spending choices closer to the people they affect.

    What this gives us

    People keep more of what they earn. Local communities can choose which services to fund together and which to buy for themselves. Less waste means less pressure to raise taxes or print money.

    What still limits us

    Defence, foreign relations, and national projects still need shared money. Food, fuel, weather, and world prices can still cause inflation. Local choice needs capable and honest local government.

  3. 3

    Optimize local debt

    Goal: Stop using local debt for day-to-day consumption. Use it for long-term projects and ventures with a clear goal, a clear end date, and a public test of success.

    What this gives us

    Work with affluent Pakistanis, through banks, to fund useful ventures. Where it fits, capital should share gains and losses like equity instead of demanding fixed debt payments.

    What still limits us

    This still needs spending discipline. Leaders must resist easy promises that win quick support but leave a long bill. Banks and investors also need honest books, clear terms, and firm end dates.

We choose Level 1 first: cut debt owed abroad as much and as fast as possible, with zero by 2040 as the ideal. The next two levels are directions for later work. They need their own targets and public debate before they become plans.

Why the first goal matters in daily life

Pakistan asked the IMF for help because it needed dollars and trust. The program aims to make the economy stable. But when Pakistan needs an emergency loan, the agreed steps can shape life at home.

Power and gas bills

Prices are kept closer to the cost of supply. This can raise bills for families and the cost of running a small business.

Taxes and shop prices

A wider tax net and fewer sales tax breaks can leave families with less money or make some goods cost more.

Jobs and public services

A tight budget can leave less room for quick help, new public jobs, schools, health care, and projects unless money is moved from somewhere else.

The rupee and imports

A flexible rupee can fall when Pakistan faces a shock. Fuel, medicine, and machines from abroad can then cost more.

The program also asks Pakistan to protect vulnerable people, grow BISP, and spend more on health and education. The point is not that lenders are bad. The point is that needing emergency money gives Pakistan fewer choices. Earning our own dollars gives people more say.

Question 1

How much do we need to pay off?

Our first measure is public debt owed to lenders outside Pakistan. It was about USD 92B on March 31, 2026. We want it to fall by as much as possible, as fast as possible. The ideal is zero by 2040. This is not all debt in Pakistan.

Ideal, not a forecast1This picture shows our ideal. It does not predict the future or show real progress. We must check progress with official numbers.

How fast can Pakistan cut this debt?

Red shows how the debt grew. Gray shows debt staying high. Green shows the ideal path: earn more and pay back more than we borrow.

Budget pressure

42.9%

Planned interest payments on all public debt take 42.9% of the federal budget for FY2026-27. This includes more than debt owed abroad.

What we owe now

Past spending and dollar gaps built today's debt.

If debt stays high

New loans can stop the total from falling.

Our 2040 ideal

Earn more from the world and cut debt as fast as possible.

PK Ventures works on part of the green path. We help people build strong companies that can sell to the world.

USD 92B

Our first measure

Public debt owed to lenders outside Pakistan, as of March 31, 2026.

USD 138B

A wider number

All debt and other amounts owed abroad, as of March 31, 2026. This is not our first measure.

USD 6.2B / year

Ideal yearly pace

The average yearly drop that would reach zero by the end of 2040.

Question 2

Who do we owe, and when should we aim to finish?

Pakistan owes many kinds of lenders. We want the selected debt to fall as fast as possible. Our ideal is zero by the end of 2040.

2040

Ideal: freedom from foreign lenders

This is a PK Ventures goal. It is not a government plan or a promise about the future.

Who the money was owed to in the latest lender list.

This lender list is from December 2025 and totals USD 92.9B. Our main USD 91.7B number is from March 2026. The dates do not match, so use this list only to see who the main lenders were.

Snapshot: December 2025

Who we oweAmountShare

Global lending bodies

The World Bank, Asian Development Bank, and other global lending groups.

USD 43.5B

47%

Other countries

Loans from other governments, including the Paris Club group of countries.

USD 24.3B

26%

IMF

Money still owed under IMF loan programs.

USD 10.2B

11%

Foreign banks

Loans from banks and other business lenders outside Pakistan.

USD 6.8B

7%

Global bonds and sukuk

Money raised from people and groups that bought Pakistan's global bonds and sukuk.

USD 6.3B

7%

Overseas certificates and other debt

Naya Pakistan Certificates and other public debt owed abroad.

USD 1.8B

2%

Total in this older list

USD 92.9B

100%

These groups come from the Ministry of Finance table for public debt owed abroad. They do not cover every debt or other amount owed abroad.

In the group called global lending bodies, the World Bank and Asian Development Bank are the two largest lenders.

Question 3

What are we doing, and how can you help?

Pakistan must make the payments. PK Ventures cannot pay the country's loans. But we can help build companies that create value for the world, earn dollars, and pay taxes at home.

What young Pakistanis can control

Most young people do not run the public budget. Their strongest lever is productivity: learn faster, use AI and other tools well, build useful things, and create more value in each hour. That helps firms serve more people, pay better wages, pay taxes, and earn dollars.

What Pakistan must do

Growth gives Pakistan more money. But growth does not pay debt on its own. Pakistan must earn more dollars, keep more of them, and use part of the gain to cut debt.

Create more value for the world

Make goods and services that solve real problems abroad.

Keep more money at home

Make more at home when it makes sense. Waste less and buy fewer things from abroad when good local choices exist.

Save part of the growth

Collect taxes fairly. Spend with care. Save dollars and use part of the gain to pay back debt.

Make the debt fall

Pay back more than we borrow. Do not call a new loan progress just because it pays an old loan.

What PK Ventures can do

These three levers feed the growth equation.

More productive people and better tools can grow the economy. But debt only falls when Pakistan keeps some of that gain and pays back more than it borrows.

The three actions above map to the three parts of Peter Fisher's equation.

Peter Fisher's growth components

Economic growth
=

Changes in total hours worked

Bring people home and help people stay

+

Changes in productivity

Turn talent into lasting value

+

New investment spending

Turn talent into lasting value

* AI factor: PK Ventures thesis: AI will affect both bracketed levers, hours worked and productivity. If those gains are large enough, they could create the possibility of high economic growth and make catch-up less constrained by new investment spending, especially for emerging economies such as Pakistan that have yet to converge with peers. This is not part of Fisher's original formula or a forecast.

Pick a way to help.

Build

Bring a real problem. Help turn it into a useful product, service, or company that creates value for the world.

Operate

Help with money, tech, sales, research, or running a company.

Return

Bring your skills, money, trusted contacts, and work experience home with a clear plan.

Finance or advise

Help good companies in Pakistan earn trust, raise money, and grow.

The debt is already here. But the future is not fixed.

Build work that creates value for the world

Help Pakistan pay back more than it borrows

For accountants: open the debt ledger

Start with one step

Help build with PK Ventures

Step 1 of 3

Sources and method

  1. [1]SBP Monthly Statistical Bulletin, March 2026: Table 5.4 shows USD 91.721B public external debt excluding foreign-exchange liabilities and USD 137.558B total external debt and liabilities as of March 31, 2026.
  2. [2]SBP economic data catalogue: Lists Pakistan external debt and liabilities as a quarterly dataset; June 2026 debt data were available when this page was revised.
  3. [3]Finance Division Budget in Brief 2026-27: Table 1 shows PKR 8.054T interest payments and PKR 18.771T total federal expenditure, making interest 42.9% of planned FY2026-27 federal expenditure.
  4. [4]Ministry of Finance Annual Debt Review FY2025: Reports the PKR 7.089T federal fiscal deficit and the domestic and external financing used to cover it.
  5. [5]IMF World Economic Outlook, April 2026: Provides general government deficits and nominal GDP used to build the yearly US dollar deficit series.
  6. [6]World Bank International Debt Statistics: Reports Pakistan's external public and publicly guaranteed debt stock through 2024.
  7. [7]Pakistan Bureau of Statistics, External Trade Statistics: Reports annual goods exports and imports from FY2007 through FY2025.
  8. [8]Pakistan trade analytical report FY2024: Tables 79 and 80 report the FY2024 export and import product groups used in the trade popup.
  9. [9]Ministry of Finance Debt Bulletin 1HFY-2026: Provides the December 2025 public external debt creditor mix and first-half FY2026 debt service, external budget funds, and deposit rollovers.
  10. [10]IMF Third Review for Pakistan, May 2026: Sets out the current program focus on wider taxes, tight budgets, flexible exchange rates, cost-based energy prices, and targeted help for vulnerable people.
  11. [11]IMF 2024 request and Extended Fund Facility report: Records Pakistan's request for the program and the agreed steps on taxes, energy prices, budgets, the exchange rate, and social protection.
  12. [12]Planning Commission Annual Plan 2025-26: Reports revised time and cost plans for 90% of ongoing federal projects and links the problem to spreading money across too many projects.
  13. [13]ADB CAREC road corridors financing facility: Lists a USD 800M financing facility for road links across Sindh, Punjab, and Khyber Pakhtunkhwa.
  14. [14]World Bank Tarbela Fourth Extension factsheet: Lists a USD 400M loan and a USD 324.93M credit for the fourth extension.
  15. [15]ADB Jamshoro Power Generation project: Lists three ADB loans with source amounts totaling USD 691.3M and records later cancellations.
  16. [16]ADB Flood Emergency Reconstruction project: Lists a USD 654M emergency loan for roads, bridges, and irrigation after the 2010 floods.
  17. [17]ADB Balakot Hydropower project: Lists a USD 300M ADB loan and USD 250M in AIIB co-financing for the power plant.
  18. [18]World Bank Karachi water and sewerage financing: Records USD 240M from the World Bank and USD 240M in AIIB co-financing for water and sewerage services.
  19. [19]ADB Karachi Red Line financing plan: Lists USD 415.8M in foreign loans from ADB, AFD, AIIB, and GCF, plus a USD 11.8M GCF grant.
  20. [20]ADB Khyber Pakhtunkhwa Cities financing: Records a USD 380M ADB loan and a USD 5M grant for water, sewerage, waste, and public spaces.
  21. [21]World Bank Grid Stability Enhancement financing: Records USD 375.9M for strengthening Pakistan's national power transmission network.
  22. [22]ADB Peshawar BRT project: Lists a USD 335M ADB loan for the Peshawar bus and urban travel project.
  23. [23]ADB Karachi Red Line BRT project: Provides the full financing plan for the Karachi bus and urban transport project.
  24. [24]World Bank Dasu Hydropower financing: Records USD 1B in added financing for Dasu Hydropower Stage I and support for nearby communities.
  25. [25]Pakistan Economic Affairs Division, Tarbela Fifth Extension: Records USD 390M from the World Bank and USD 300M from AIIB for the Tarbela Fifth Extension project.
  26. [26]Pakistan Economic Affairs Division, Mohmand Dam: Records a USD 240M Saudi Fund loan for power, water, and flood-control work at Mohmand Dam.
  27. [27]ADB M-4 Gojra to Shorkot motorway loan: Records a USD 178M ADB loan for the motorway link in Punjab.
  28. [28]Peter Fisher, Saving and Aging presentation deck: Slide 4 presents economic growth as changes in total hours worked plus changes in productivity plus new investment spending.
  29. [29]IMF AI Preparedness Index: Explains that AI can increase productivity and economic growth while outcomes differ with infrastructure, skills, policy, and preparedness.
  30. [30]World Bank Digital Progress and Trends Report 2025: Describes AI productivity opportunities and the connectivity, compute, context, and competency foundations developing economies need to benefit.
  31. [31]Ishrat Husain, Managing external debt, Dawn: Signed opinion published September 3, 2026. It informs the repayment-capacity lens; official sources remain authoritative for figures and definitions.