August 15, 2024 (MLN): The total government domestic debt and liabilities have increased by 20.35% YoY to Rs47.72 trillion in June 2024, compared to Rs39.65tr in June 2023, the latest data released by the State Bank of Pakistan (SBP) showed.
On a sequential basis, domestic debt and liabilities have risen by 2.26% MoM compared to Rs46.67tr in May 2024.
According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs33.66tr, signifying a growth of 29.34% YoY.
This comprised Rs32.79tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs385.14bn worth of prize bonds, and the remaining Rs2.84bn in market loans.
The floating debt rose by 9.77% YoY in June to Rs10.25tr compared toRs9.34tr in the same period last year.
Market Treasury Bills comprised the major proportion of the total floating debt and stood at Rs10.17tr in June 2024.
On the other hand, the government's unfunded debt fell by 4.37% YoY to Rs2.8tr in June 2024, primarily due to a significant drop of 3.93% YoY in saving schemes, which amounted to Rs2.71tr compared to Rs2.82tr in the SPLY.
Foreign currency loans fell significantly as they clocked in at Rs373.55bn in June 2024, compared to Rs383.82bn in June 2023.
Borrowing through Naya Pakistan Certificates also reduced by 41.07% YoY to Rs84.09bn in June 2024.
Similarly, on a sequential basis, it fell by 3.11% MoM in June compared to Rs86.79bn in May.
Moving forward, domestic liabilities of the government dropped by 33.31% YoY and were reported at Rs563.51bn in the review month.
