Govt domestic debt, liabilities rise to around Rs54tr in October

December 04, 2025 (MLN): The total government domestic debt and liabilities have increased by 13.96% to Rs54.18 trillion in October 2025, compared to Rs47.54tr in October 2024, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 1.03% compared to Rs53.63tr in September 2025.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs41.98tr, signifying a growth of 24.33% YoY.

This comprised Rs41.08tr in federal government bonds, Rs475bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs420bn worth of prize bonds, and the remaining Rs3bn in market loans.

The floating debt dropped by 17.43% in October to Rs8.41tr compared toRs10.18tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs8.29tr in October 2025.

On the other hand, the government's unfunded debt increased by 10.43% YoY to Rs3.14tr in October 2025, primarily due to a significant rise of 11.15% YoY in saving schemes, which amounted to Rs3.06tr compared to Rs2.75tr in the SPLY.

Foreign currency loans increased significantly as they clocked in at Rs379bn in October 2025, compared to Rs373bn in October 2024.

Borrowing through Naya Pakistan Certificates also elevated by 3.95% YoY to Rs79bn in October 2025.

Similarly, on a sequential basis, it increased by 25.4% in October compared to Rs63bn in September.

Moving forward, domestic liabilities of the government dropped by 34.95% YoY and were reported at Rs201bn in the review month.

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