Govt domestic debt, liabilities rise 19% YoY in Feb

March 28, 2025 (MLN): The total government domestic debt and liabilities have increased by 18.81% to Rs51.28 trillion in February 2025, compared to Rs43.17tr in February 2024, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 1.49% compared to Rs50.53tr in January 2025.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs39.43tr, signifying a growth of 25.42% YoY.

This comprised Rs38.55tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs399.36bn worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt rose by 3.48% in February to Rs8.23tr compared toRs7.95tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt, and stood at Rs8.14tr in February 2025.

Similarly, the government's unfunded debt increased by 3.74% YoY to Rs2.91tr in February 2025, primarily due to a significant rise of 4.14% YoY in saving schemes, which amounted to Rs2.84tr compared to Rs2.72tr in the SPLY.

Foreign currency loans increased significantly as they clocked in at Rs375.33bn in February 2025, compared to Rs374.59bn in February 2024.

Borrowing through Naya Pakistan Certificates also reduced by 29.29% YoY to Rs70.14bn in February 2025.

Conversely, on a sequential basis, it increased by 5.45% in February compared to Rs66.51bn in January.

Moving forward, domestic liabilities of the government dropped by 46.47% YoY and were reported at Rs262.79bn in the review month.

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