Govt borrows Rs366bn debt in a week

March 13, 2024 (MLN): The government of Pakistan has acquired an additional debt of Rs366.05 billion during the week ended March 01, 2024, which brings its total net borrowing for ongoing fiscal year 2024 to Rs3.09 trillion, 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 Rs384.67bn, while the retirement off commodity operations stood at Rs18.6bn.

Meanwhile, a total of Rs20.99m was retired off others during the week.

Accordingly, this takes the cumulative borrowing for the current fiscal year 2024 to Rs3.4 trillion for budgetary support, Rs310.35bn retirement off Commodity Operations, and Rs0.79bn 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 Rs557.27bn to the central bank, out of which the Federal Government retired Rs315.3bn whereas, the Provincial Government retired Rs218.29bn, AJK Government retired Rs16.49bn, and the GB Government retired Rs7.19bn.

On the other hand, the Scheduled Banks have lent out a net total of Rs3.95tr out of which the Federal Government borrowed Rs4.13tr while the Provincial Government retired Rs182.38bn.

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