Karachi August 6 2023: As per the data released by the State Bank of Pakistan (SBP), the government’s debt increases to record PKR 60,839.9 billion as of June 2023 compared to PKR 47,832.4 billion as of June 2022.
Country's domestic debt increases by PKR 7,723.5 billion or 24.8 percent since June 2022, while short term debt increases by 37.2 percent to PKR 9,335.3 billion during the same period.
The external debt of the country increased by 31.6 percent in fiscal year 2023 to PKR 22,030.9 billion as mainly on account of rupee depreciation. Average Pakistan Rupee depreciated by 28.6 percent during the same period from 204 in June 2022 to 286.39 in June 2023. However, government has repaid external debt amounts to USD 5.07 billion since June 2022, according to central bank data.
Also, the outstanding position of Naya Pakistan Certificates increased to PKR 142.7 billion as of June 2023 from PKR 92.9 billion in June 2022.
The central Government total debt also increased by PKR 13,007.5 billion or 27.2 percent YoY to PKR 60,839.9 billion.