The federal government’s total public debt surged by 27.3% YoY in June 2023 compared to the previous year. State Bank of Pakistan (SBP) data revealed the debt reached Rs. 60.84 trillion from Rs. 47.784 trillion, a rise of Rs. 13.056 trillion.
Central government domestic debt rose 25% from Rs. 31.037 trillion to Rs. 38.809 trillion. Long-term public debt climbed from Rs. 24.188 trillion to Rs. 29.331 trillion, and short-term debt increased from Rs. 6.804 trillion to Rs. 9.335 trillion.
Within long-term debt, Rs. 5.17 trillion was raised through Federal Government Bonds, including Pakistan investment bonds and GOP Ijara Sukuk. Debt stock of Federal Government Bonds increased from Rs. 19.991 trillion to Rs. 25.161 trillion. Prize Bonds issuance yielded Rs. 8 billion.
SBP on-lending to GOP against SDRs remained at Rs. 475 billion, while unfunded debt dropped from Rs. 3,336 billion to Rs. 2,926 billion. Foreign currency loans rose to Rs. 384 billion from Rs. 9 billion.
The central government’s external debt rose to Rs. 22.031 trillion from Rs. 16.747 trillion, a 31.6% increase. Additionally, Arif Habib Limited reported Pakistan’s debt-to-GDP ratio settled at 71.9% in June 2023 compared to 71.8% in June 2022.