Pakistan’s debt and liabilities profile increased by Rs. 2.768 trillion to Rs. 62.466 trillion from Rs. 59.698 trillion during the first quarter of the current fiscal year.
The State Bank of Pakistan (SBP) has issued quarterly data on the country’s debt and liabilities profile. According to the data, the country’s total debt has piled up by Rs. 2.611 trillion to Rs. 59.374 trillion from Rs. 56.763 trillion during 1QFY23.
The data shows that the government’s domestic debt increased from Rs. 26.44 trillion last year to Rs. 31,40 trillion, while the public sector enterprise’s (PSE) domestic debt increased from Rs. 1.393 trillion to Rs. 1.448 trillion during the period.
The external debt also surged from Rs. 24.333 trillion to Rs. 26.502 trillion during the first quarter of the current fiscal year. Out of total external debt, the government external debt was up from Rs. 16.747 trillion to Rs. 17.997 trillion, the country’s debt from IMF was piled up from Rs. 1,409.6 billion to Rs. 1,731.4 billion, and intercompany external debt from direct Investor abroad was swelled from Rs. 905 billion to Rs. 998 billion by the end of September 2022 as compared to June 2022.
The total liabilities of the country swelled by Rs. 158 billion from Rs. 3.409 trillion to Rs. 3.567 trillion during the first quarter of the current fiscal year, the data shows. Out of total liabilities, the external liabilities including central bank deposits, SWAPS, allocation of Special Drawing Rights (SDR), and non-resident LCY deposits with the central bank were increased from Rs. 2,275.6 billion to Rs. 2,440.3 billion, however, the domestic liabilities for commodity operation was slightly decreased from Rs. 1,133.7 billion to Rs. 1,126.8 billion during the period, the central bank’s data shows.
The data shows that the total debt and liabilities servicing reached Rs. 1,524.8 billion during the first quarter of the current fiscal year.
Out of total debt and liabilities servicing, the country has paid Rs. 500 billion on account of principal repayment of external debt and liabilities during the first quarter of the current fiscal year. It is pertinent to mention here that the principal repayment of short-term debt is excluded from overall principal repayments.
The data shows that the out of total principal repayment of external debt and liabilities, Rs. 386 billion was paid on account of principal repayment of government external debt and Liabilities, Rs. 68 billion was paid on account of principal repayment of non-government external debt and Rs. 46 billion was paid on account of the principal repayment of country’s debt from IMF during three months.
The country has paid Rs. 987 billion against interest payments on debt during the first quarter of the current fiscal year, according to the data.
The government has paid Rs. 822 billion interest payment on government domestic debt and Rs. 165 billion was paid against the interest payment on external debt including Rs. 111 billion on government external debt, Rs. 43.5 billion on non-government external debt, and Rs. 10.5 billion on country’s debt from IMF.
The data shows that the government has paid Rs. 37.4 billion against the interest payment on liabilities including Rs. 29.7 billion on domestic liabilities and Rs. 7.6 billion on external liabilities during the three months of the current fiscal year.
The debt servicing of principal short-term debt was paid Rs. 99 billion excluding scheduled banks borrowing during the first quarter of the current fiscal year.
