Pakistan’s federal government debt increased by Rs18,832 billion during the 28 months leading up to June 2026, according to data attributed to the State Bank of Pakistan (SBP). The figures show a substantial rise in both domestic and external borrowing, with domestic debt accounting for the larger share of the overall increase.
According to the available data, the Pakistan federal government debt stood at around Rs64,810 billion by February 2024. By June 2026, the total debt had climbed to approximately Rs83,642 billion, representing an increase of Rs18,832 billion over the period. The figures highlight the continued pressure on government finances and borrowing requirements.
The largest increase came from domestic borrowing. The federal government’s domestic debt increased by Rs16,766 billion, rising from Rs42,675 billion in February 2024 to Rs59,441 billion by June 2026. This means domestic borrowing contributed the overwhelming majority of the total increase in federal government debt during the period.
External debt also recorded an increase, although it was considerably smaller than the rise in domestic debt. Pakistan’s federal government external debt stood at Rs22,134 billion in February 2024 and reached Rs24,201 billion by June 2026, showing an increase of Rs2,066 billion.
Based on the reported increase over 28 months, the Pakistan federal government debt grew by an average of more than Rs22 billion per day. While daily averages do not represent actual day-to-day borrowing, the calculation illustrates the scale of the increase over the period under review.
The debt figures come at a time when Pakistan continues to face significant fiscal challenges, including debt-servicing obligations, revenue pressures and the need to manage financing requirements. The much larger increase in domestic debt also indicates that local borrowing remained a major source of government financing.
