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Mettis Global News
Mettis Global News
Mettis Global News

MPS Preview: High for Longer

Govt borrows Rs150.4bn debt in a week

Govt borrows another 383bn debt in a week
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February 21, 2024 (MLN): The government of Pakistan has acquired an additional debt of Rs150.43bn WoW during the week ended February 09, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs2.75tr, according to the central bank's weekly estimates.

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

Split three ways between these broad categories, the weekly net borrowing for budgetary support was Rs158.87bn, while the retirement off commodity operations stood at Rs8.42bn.

Similarly, a total of Rs19.11m was retired off others during the week.

Accordingly, this takes the cumulative borrowing for the current fiscal year 2024 to Rs3.01tr for budgetary support, Rs265.32bn debt repayment off Commodity Operations, and Rs2.81bn borrowing for others.

The two biggest source of financing for budgetary support are the State Bank of Pakistan and the Scheduled Banks.

This fiscal year, the government has paid off a net sum of Rs841.86bn to the central bank, out of which the Federal Government retired Rs645.39bn.

Whereas, the Provincial Government retired Rs179.19bn, AJK Government incurred debt repayment Rs18.21bn, and the GB Government borrowed Rs925.98m.

On the other hand, the Scheduled Banks have lent out a net total of Rs3.85tr out of which the Federal Government borrowed Rs4.03tr while the Provincial Government retired Rs182.38bn.

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Posted on: 2024-02-21T11:08:49+05:00