Pakistan’s total debt, liabilities rise to Rs93tr in Q1FY26

November 14, 2025 (MLN): Pakistan’s total debt and liabilities increased to Rs92.66 trillion in Q1FY26, marking a rise of 7.41% YoY from Rs86.27tr in Q1FY25, according to data from the State Bank of Pakistan (SBP) released on November 14, 2025.

The breakup for the total debt and liabilities shows that total debt stood at Rs89.88tr and liabilities stood at Rs4.44tr during the review period.

The country's total debt comprised of three elements: domestic debt, PSE debt, and external debt, amounting to Rs53.42tr, Rs2.01tr, and Rs34.45tr respectively.

The external debt which includes debt from IMF, intercompany external debt from direct investors abroad, government and non-governmental external debt, jumped by 1.89% YoY as in the same period last year it stood at Rs33.81tr.

It is important to note that the country’s debt from IMF stood at Rs2.54tr, dropping by 1.01% YoY in Q1FY26.

The data released by the central bank further shows that the total liabilities (external and domestic) reduced by 1.07% YoY to Rs4.44tr during the review period.

The last element in the breakup is the consolidated adjustment with reference to on-lending to GOP, amounting to Rs1.66tr in Q1FY26.

The servicing of total debt and liabilities surged to Rs2.17tr in Q1FY26, reflecting an increase of 1.5% YoY compared to Rs2.14tr in the same period last year.

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