Pakistan govt debt surges by Rs 4,304bn in eight months

ISLAMABAD: Pakistan’s federal government debt has surged by Rs 4,304 billion in the first eight months of the current tenure, ARY News reported citing official documents.

As of October, the total debt stood at Rs 69.114 trillion, up from Rs 64.810 trillion in February, according to documents available with ARY News.

The domestic debt rose by Rs 4,556 billion during the period, while foreign debt decreased by Rs 251 billion.

As a result, the domestic debt stood at Rs 47.231 trillion as of October, up from Rs 42.675 trillion in February. The foreign debt, on the other hand, decreased to Rs 21.884 trillion from Rs 22.134 trillion during the same period.

Earlier in October, Pakistan’s central government debt reached an all-time high of Rs 70,362 billion, marking the highest level in the country’s history.

According to data released by the State Bank of Pakistan (SBP), the federal debt had increased by Rs 1,448 billion in just the first two months of the current fiscal year, with Rs 739 billion added in August alone.

The federal government’s debt rose by a staggering Rs 6,392 billion between September 2023 and August 2024.