ISLAMABAD: During the week ending February 02, 2024, the Pakistani government accrued an additional debt of Rs360 billion, bringing its total net borrowing for the ongoing fiscal year 2024 to Rs2.7 trillion.
The State Bank of Pakistan (SBP) mentioned this in its weekly estimates released today.
The government’s borrowing activities are categorized into three main groups: budgetary support, commodity operations, and other purposes.
Breaking down these categories, the weekly net borrowing for budgetary support amounted to Rs352.26 billion, while borrowing for commodity operations reached Rs5.51 billion.
Additionally, Rs2.1 billion was borrowed for other purposes during the same week. Mettis Global News reported this development on Thursday.
Consequently, the cumulative borrowing for fiscal year 2024 now stands at Rs2.95 trillion for budgetary support, Rs256.89 billion for commodity operations retirement, and Rs2.82 billion for other purposes.
The primary sources of financing for budgetary support are the State Bank of Pakistan and Scheduled Banks.
In this fiscal year, the government has repaid a net sum of Rs1.05 trillion to the central bank. Within this amount, the Federal Government retired Rs858.06 billion, while the Provincial Government retired Rs178.05 billion.
The AJK Government retired Rs18.05 billion, and the GB Government borrowed Rs0.7 billion.
Conversely, Scheduled Banks have extended a net total of Rs4.01 trillion in loans. Of this, the Federal Government borrowed Rs4.1 trillion, while the Provincial Government retired Rs90.41 billion.
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