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Govt borrowing reaches Rs 14.56 trillion as of June 30

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July 22, 2020 (MLN): The government of Pakistan raised a sum of Rs. 2.26 trillion during the year ended June 30, 2020, which brought its cumulative borrowing for the year to Rs. 14.56 trillion, according to the data released by the State Bank of Pakistan.

The additional sum borrowed is around 4.1% higher as compared to the amount raised in last year i.e. Rs. 2.13 trillion, whereas the cumulative borrowing shows an increase of 18% as compared to the figures recorded on June 30, 2019, i.e. Rs. 12.33 trillion.

The government sector borrowings are divided into three broad categories based on the purpose of loan which is budgetary support, commodity operations, and others.

Split three ways between these broad categories, the amount raised for budgetary support totaled Rs. 2.16 trillion, which resulted in a cumulative borrowing of Rs. 13.76 trillion. Likewise, Rs. 57.01 billion was raised for Commodity operations, resulting in a cumulative borrowing of Rs.  Rs. 813.4 billion. Rs. 1.7 billion were raised for other miscellaneous operations during the year.

The two biggest sources of financing for budgetary support are the State Bank of Pakistan and the Scheduled Banks. This fiscal year, the government paid off a net sum of Rs. 134.8. billion to the SBP, out of which the Federal Government retired Rs. 64.9 billion, the Provincial Government retired Rs. 65.6 billion, AJK Government retired Rs. 4.95 billion, and the GB Government borrowed Rs. 631 million.

On the other hand, the Government raised a sum of Rs. 2.3 trillion from Scheduled Banks, out of which, the Federal Government raised Rs. 2.47 trillion while the Provincial Government retired Rs. 172.3 billion.

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Posted on: 2020-07-22T13:05:00+05:00

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