Pakistan's total debt surges by Rs4 trillion in January
Last updated on: 08 March,2023 09:57 am
The domestic debt rose to Rs34.3tr by end-January
LAHORE (Web Desk) - The debt owned by the federal government swelled by Rs4 trillion, or around 7.7 per cent, in January to reach close to Rs55tr, data released by the State Bank of Pakistan (SBP) shows.
Debt figure was Rs42.39tr in January 2022, which implies 30 per cent increase over the past year.
On the other hand, domestic debt rose to Rs34.3tr by end-January, 3.4pc higher than it was a month ago and around 25pc higher than the year-ago figure.
The central bank data further shows that external debt clocked in at Rs20.69tr, recording a jump of 15.7pc in a month and 38pc in a year.
During the first seven months (July to January) of the current fiscal year, the central government domestic debt rose by Rs3.218tr, an increase of 10.4pc.
The government’s borrowings through long-term, high-cost Pakistan Investment Bonds (PIBs) reached Rs20.9tr by the end of January from Rs15.59tr a year ago, recording an increase of 34pc.