Pakistan’s Public Debt Surpasses Rs. 58 Trillion

Hi everyone! I hope you are all doing well. Welcome back to another blog. This article will discuss “Pakistan’s Public Debt Surpasses Rs. 58 Trillion”. In April 2023, the total public debt stock of the federal government experienced a significant increase of 34.1 percent on a year-on-year (YoY) basis, when compared to the corresponding month of the previous fiscal year.

The State Bank of Pakistan (SBP) has released its monthly data, revealing that the debt stock rose to Rs. 58.599 trillion in April 2023, compared to Rs. 43.705 trillion in April 2022. This marks an increase of Rs. 14.894 trillion. The data indicate that the central government’s domestic debt surged by 26.4 percent, reaching Rs. 36.549 trillion from Rs. 28.914 trillion during the same period.

The long-term public debt rose from Rs. 23.301 trillion to Rs. 29.195 trillion, and the short-term debt increased from Rs. 5.578 trillion to Rs. 7.215 trillion in the past year, out of the total domestic debt.

The government obtained Rs. 6 trillion through the issuance of Federal Government Bonds, which include Pakistan Investment Bonds and GOP Ijara Sukuk as well as Bai-Muajjal of Sukuk, in the past year. The overall debt from Federal Government Bonds rose from Rs. 18.985 trillion to Rs. 24.992 trillion. Additionally, the government generated Rs. 8 billion by issuing Prize Bonds within a one-year period.

The government’s on-lending from the State Bank of Pakistan (SBP) to the government remained steady at Rs. 475 billion. The unfunded debt decreased to Rs. 2,962 billion from Rs. 3,457 billion. Foreign currency loans increased to Rs. 381 billion from Rs. 8 billion during the period.

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The central government’s external debt rose by 49.1 percent, increasing from Rs. 14.791 trillion to Rs. 22.050 trillion, as indicated in the report.


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