KARACHI - The foreign debt and foreign exchange liabilities of Pakistan have mounted to 45.92 billion dollars by March 2008, showing a huge increase of 5.44 billion dollars in nine months of this fiscal as compared to the size of the debt and liabilities in FY07. In FY07, the external debt and foreign exchange liabilities amounted to 40.48 billion dollars, which have surged to record high mark of 45.92 billion dollars during July-March period of this financial year. The growth of 5.44 billion dollars in the foreign debt and liabilities in just nine months of the outgoing fiscal year was unprecedented and a shocking development in the history of the country, capital market sources told The Nation. The external debt and liabilities have reflected a major surge in the third quarter of the current financial year and expanded to 45.92 billion dollars as against 42.93 billion dollars at the end of the second quarter of FY08. According to latest foreign debt/liabilities update, in the FY07 the external debt/liabilities stood at 40.48 billion dollars which increased to 41.96 billion dollars in first quarter of this fiscal and further rose to 42.93 billion dollars in the second quarter of FY08. According to sources, the foreign debt and liabilities have marked a stunning growth from the fiscal year 2005-06 and amounted to 37.56b dollars, from $35.83b in FY05. Since FY06 the foreign loans and liabilities have increased by 10.09 billion dollars; indicating 28.16pc growth by March 2008. Sources claimed that by June 2008 the external debt and liabilities could settle over $47b. The previous regime's strategy of increased borrowings from the multilateral donor agencies and raising foreign exchange from the international markets in the shape of the global bonds and the global depository receipts had led to an unprecedented growth in the external debt of the country in this financial year, said sources.