ISLAMABAD (Dunya News) – The government borrowed a total of Rs1,514 billion during the first quarter of the current fiscal year 2026-27, from July to September, including Rs1,037 billion in September alone, according to documents from the Ministry of Economic Affairs.
The documents show that the government borrowed approximately Rs913 billion more in September 2026 than in September 2025.
According to the documents, the government issued bonds worth $3 billion in September. Of these, $1.75 billion in bonds carry an interest rate of 7.5%, while the remaining $1.25 billion carry an interest rate of 7.9%. The bonds will mature in 2036.
The Ministry of Economic Affairs said the proceeds from the $3 billion bond issuance could be used for budget support, with the Ministry of Finance serving as the executing agency. The amount is equivalent to approximately Rs818 billion when converted into local currency.
In addition to the bonds, the government borrowed Rs17 billion under non-project financing, which includes budget support and short-term loans.
The documents further revealed that the government received a total of $5.44 billion in foreign loans and grants between July and September. This was $3.63 billion more than the $1.81 billion received during the corresponding period of the previous fiscal year.
During the first quarter, the government also secured a medium-term loan facility worth $300 million from an international commercial bank.
According to the Economic Affairs Division, funds raised through Naya Pakistan Certificates increased significantly during the first quarter of the current fiscal year. Naya Pakistan Certificates worth $942.7 million were issued during the period.