January 28, 2019 (MLN): Based on weekly data release on Monetary Aggregates published by the State Bank of Pakistan (SBP), the Federal Government’s cumulative net borrowing for budgetary support has risen to Rs.734.77 billion for the period July – January 19, 2019.

This amount is twice of the amount borrowed during the corresponding period of last year, which was Rs.365.57 billion.

Until last week, the federal government was Rs.772.6 billion in debt (for budgetary support) which means it has retired around Rs.37.8 billion (net) in the last seven days.

As per record, Rs.3.77 trillion were borrowed from SBP during this period, whereas the corresponding period of last year witnessed a total borrowing of Rs.870.6 billion from SBP.

Nonetheless, a net sum of over Rs.3 trillion of Scheduled Banks was retired during this phase this fiscal year.

Copyright Mettis Link News

25662