Govt domestic debt, liabilities rise to Rs56tr in January

March 05, 2026 (MLN): The total government domestic debt and liabilities have increased by 11.1% to Rs56.14 trillion in January 2026, compared to Rs50.53tr in January 2025, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 1.04%, from Rs55.56tr in December 2026.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs43.56tr, signifying a growth of 12.98% YoY.

This comprised Rs42.66tr in federal government bonds, Rs1.3bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs35.27tr worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt rose by 5.17% in January to Rs8.78tr compared toRs8.35tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs8.66tr in January 2026.

Similarly, the government's unfunded debt increased by 9.69% YoY to Rs3.18tr in January 2026, primarily due to a significant rise of 10.43% YoY in saving schemes, which amounted to Rs3.11tr compared to Rs2.81tr in the SPLY.

Foreign currency loans increased significantly as they clocked in at Rs386.33bn in January 2026, compared to Rs374.37bn in January 2025.

Borrowing through Naya Pakistan Certificates also elevated by 8.53% YoY to Rs72.19bn in January 2026.

Similarly, on a sequential basis, it increased by 16.29% in January compared to Rs62.08bn in December.

Moving forward, domestic liabilities of the government dropped by 43.8% YoY and were reported at Rs162.39bn in the review month.

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