Govt domestic debt, liabilities rise to Rs50tr in December

February 14, 2025 (MLN): The total government domestic debt and liabilities have increased by 16.17% to Rs50.19 trillion in December 2024, compared to Rs43.21tr in December 2023, the latest data released by the State Bank of Pakistan (SBP) showed.

On a sequential basis, domestic debt and liabilities have risen by 2.66% compared to Rs48.89tr in November 2024.

According to details provided by the State Bank of Pakistan (SBP), the larger portion of the debt was permanent debt, which totaled Rs37.86tr, signifying a growth of 22.58% YoY.

This comprised Rs36.99tr in federal government bonds, Rs474.94bn in SBP's on-lending to the government of Pakistan against SDRs allocation, Rs394.32bn worth of prize bonds, and the remaining Rs2.84bn in market loans.

The floating debt rose by 3.9% in December to Rs8.7tr compared to Rs8.37tr in the same period last year.

Market Treasury Bills comprised the major proportion of the total floating debt and stood at Rs8.6tr in December 2024.

Similarly, the government's unfunded debt increased by 1.06% YoY to Rs2.87tr in December 2024, primarily due to a significant rise of 1.34% YoY in saving schemes, which amounted to Rs2.79tr compared to Rs2.75tr in the SPLY.

Foreign currency loans fell significantly as they clocked in at Rs373.83bn in December 2024, compared to Rs378.28bn in December 2023.

Borrowing through Naya Pakistan Certificates also reduced by 31.8% YoY to Rs80.96bn in December 2024.

Conversely, on a sequential basis, it increased by 2.77% in December compared to Rs78.78bn in November.

Moving forward, domestic liabilities of the government dropped by 49.34% YoY and were reported at Rs309.87bn in the review month.

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