Pakistan’s debt reaches Rs 64 tr: SBP

KARACHI: The total debt and liabilities of Pakistan has reached to Rs 64 trillion, a report released by the State Bank of Pakistan (SBP) on Thursday said.

According to the State Bank of Pakistan (SBP), the total international debt of the country, mainly government debt, surged by 39 percent to Rs 24.1 trillion.

Whereas, the local debt has increased by 24 percent to Rs 39.7 trillion as the government of Pakistan took Rs 2.21 trillion debt in August 2023.

Earlier today, the total liquid foreign reserves of Pakistan reached US$ 13,030.8 million while reserves held by the central bank stood at $7,615.4 million.

Read more: Rupee gains more ground against US dollar in interbank

The State Bank of Pakistan, in a statement issued on Thursday, informed that SBP’s reserves decreased by $ 21 million to US$ 7,615.4 million during the week ended on September 28, 2023.

Meanwhile, net foreign reserves held by commercial banks stood at $ 5,415.4 million, it added.

Total liquid foreign reserves held by the country, in the previous week ending on September 22, 2023, were US$ 13.162 billion.

Among them, foreign reserves held by the central bank were $ 7.636 billion while net foreign reserves held by commercial banks were $ 5.525 billion.

Meanwhile, the Pakistani rupee (PKR) continued an upward trend against the US dollar in the interbank market, extending its gains for the 21th consecutive session.

According to the Forex Association of Pakistan, the rupee gained Rs1 against the US dollar, trading at Rs284.68 from yesterday’s close of Rs284.68.

In the open market, the dollar depreciated by Rs 1, standing at Rs284 in the morning trade, according to the Exchange Companies Association of Pakistan.