Govt domestic debt, liabilities ease slightly in Oct

December 04, 2024 (MLN): The total government domestic debt and liabilities have decreased by 0.64% to Rs47.54 trillion in October 2024, compared to Rs47.85tr in September 2024, the latest data released by the State Bank of Pakistan (SBP) showed.

On a yearly basis, domestic debt and liabilities increased by 15.86% compared to Rs41.03tr in the same month last year.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs33.76tr, signifying a growth of 20.44% YoY.

This comprised Rs32.89tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs391.1bn worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt rose by 13.27% in October to Rs10.18tr compared to Rs8.99tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs10.18tr in October 2024.

On the other hand, the government's unfunded debt fell by 1.5% YoY to Rs2.84tr in October 2024, primarily due to a significant drop of 1.15% YoY in saving schemes, which amounted to Rs2.75tr compared to Rs2.79tr in the SPLY.

Foreign currency loans fell significantly as they clocked in at Rs372.7bn in October 2024, compared to Rs377.76bn in October 2023.

Borrowing through Naya Pakistan Certificates also reduced by 41.29% YoY to Rs75.62bn in October 2024.

Similarly, on a sequential basis, it fell by 10.71% in October compared to Rs84.7bn in September.

Moving forward, domestic liabilities of the government dropped by 50.47% YoY and were reported at Rs308.76bn in the review month.

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