Pakistan’s federal government debt has surged by over Rs. 15 trillion in just two years, highlighting the scale of borrowing during the current administration.
According to data from the State Bank of Pakistan, total government debt increased by Rs. 15,072 billion between March 2024 and February 2026, pushing the overall debt stock to around Rs. 79,882 billion.
This translates into an average increase of roughly Rs. 21 billion per day, underlining the rapid pace of borrowing. A breakdown of the figures shows that domestic debt accounted for the bulk of the increase, rising by about Rs. 14,004 billion, while external debt grew by Rs. 1,068 billion during the same period.
The federal government’s total debt stood at Rs. 64,810 billion in February 2024, meaning the latest figures reflect a sharp expansion in liabilities over a relatively short time.
Recent central bank data also indicates that overall government debt has continued to climb steadily, reaching around Rs. 79 trillion by early 2026, driven largely by increased domestic borrowing to meet financing needs.
The rise in debt comes as Pakistan faces ongoing fiscal pressures, including high debt servicing costs, limited revenues, and the need to finance budget deficits.
At the same time, the country has been relying on both domestic and external sources, including multilateral lenders and bilateral partners, to manage its financing requirements and maintain economic stability.