Govt's debt for budget support exceeded Rs 2000 billion: SBP report

ISLAMABAD: The State Bank of Pakistan (SBP) report said that the government’s debt for budget support has exceeded Rs 2000 billion, ARY News reported on Tuesday.

As per details, the state bank of Pakistan said that the government debt for budget support has exceeded Rs 2000 billion. 

The State Bank figure shows that the government has taken Rs 2260 bank loan from July till March while Rs 1987 billion was borrowed from commercial banks.

In the latest SBP report, Last year, in the same period the amount that the government borrowed from banks was Rs 535 billion. The companies also took a Rs 248 billion loan, this amount was Rs 911 billion last year.

Read more: SBP RECEIVES $500MLN FROM CHINESE BANK

Earlier, the Finance Minister Senator Ishaq Dar said that the State Bank of Pakistan (SBP) received $500 million from Chinese Bank ICBC.

The amount was received by SBP from Chinese Bank ICBC as a second loan tranche. In a Tweet, he said it will shore up the forex reserves of Pakistan.

“State Bank of Pakistan has received today in its account from Chinese bank ICBC US$ 500 million. It will shore up the forex reserves of Pakistan”, the minister had said in a tweet.