Govt domestic debt, liabilities rise 8.5% YoY in May

July 06, 2026 (MLN): The total government domestic debt and liabilities have increased by 8.5% to Rs58.24 trillion in May 2026, compared to Rs53.68tr in May 2025, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 0.04% compared to Rs58.22tr in April 2026.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs43.65tr, signifying a growth of 3.29% YoY.

This comprised Rs42.74tr in federal government bonds, Rs474.9bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs431bn worth of prize bonds, and the remaining Rs2.8bn in market loans.

The floating debt rose by 31.98% in May to Rs10.73tr compared toRs8.13tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs10.61tr in May 2026.

Similarly, the government's unfunded debt increased by 8.78% YoY to Rs3.26tr in May 2026, primarily due to a significant rise of 9.35% YoY in saving schemes, which amounted to Rs3.19tr compared to Rs2.92tr in the SPLY.

Foreign currency loans increased significantly as they clocked in at Rs394.4bn in May 2026, compared to Rs11.9bn in May 2025.

Borrowing through Naya Pakistan Certificates also elevated by 18.54% YoY to Rs76.1bn in May 2026.

Similarly, on a sequential basis, it increased by 26.62% in May compared to Rs60.1bn in April.

Moving forward, domestic liabilities of the government dropped by 39.56% YoY and were reported at Rs130.5bn in the review month.

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