Punjab government is almost bankrupt?

Punjab chief minister Shahbaz Sharif requested the federal government to convert the Rs. 50 billion overdraft of Punjab government into a loan. The federal government requested the state bank to do so which they oblige. If it was not converted then there was a danger that Punjab government default. The total overdraft of Punjab government is Rs. 70 billions. Shahbaz Sharif is not managing it properly?

Courtesy: Siasat