Govt domestic debt, liabilities nears Rs54tr in May

July 04, 2025 (MLN): The total government domestic debt and liabilities have increased by 15.02% to Rs53.68 trillion in May 2025, compared to Rs46.67tr in May 2024, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 1.77% compared to Rs52.74tr in April 2025.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs42.26tr, signifying a growth of 26.7% YoY.

This comprised Rs41.37tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs404.9bn worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt dropped by 14.56% in May to Rs8.14tr compared toRs9.52tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs8.04tr in May 2025.

On the other hand, the government's unfunded debt increased by 7.24% YoY to Rs2.99tr in May 2025, primarily due to a significant rise of 7.72% YoY in saving schemes, which amounted to Rs2.92tr compared to Rs2.71tr in the SPLY.

Foreign currency loans fell significantly as they clocked in at Rs11.86bn in May 2025, compared to Rs373.53bn in May 2024.

Borrowing through Naya Pakistan Certificates also reduced by 26.05% YoY to Rs64.19bn in May 2025.

Conversely, on a sequential basis, it increased by 3.44% in May compared to Rs62.05bn in April.

Moving forward, domestic liabilities of the government dropped by 60.21% YoY and were reported at Rs215.92bn in the review month.

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