Govt sector's net borrowing reaches Rs.775 billion

March 18, 2019 (MLN): The government sector’s net borrowing during current fiscal year (FY19) has accumulated to an amount of Rs.775.95 billion as of March 8, 2019, reported the State Bank of Pakistan in its weekly report on monetary aggregates.

As compared to prior week, the net borrowing has inched up by almost Rs.28 billion while compared to same period last year, the net borrowing is higher by Rs.311.2 billion.

According to the data, government’s net borrowing for budgetary support was Rs.935.8 billion during this period whereas Rs.160.7 billion was retired of Commodity Operations. An additional amount of Rs.863 million was borrowed for other purposes by the government.

For budgetary support, Rs.3.2 trillion were borrowed from SBP and Rs.2.3 trillion were retired of Scheduled Banks.

The federal government borrowed a net sum of Rs.3.4 trillion from SBP for budgetary support while the provincial government retired Rs.179.2 billion.

Copyright Mettis Link News