Pakistan’s gross government domestic debt and liabilities increased to Rs 58,089 billion in April, as per a report by The Express Tribune citing State Bank of Pakistan (SBP) data. This marked a rise from Rs 57,566 billion in March and an 11% increase from Rs 52,523 billion in April 2025. The surge was primarily fueled by floating debt and long-term securities, indicating a reliance on various borrowing instruments to meet fiscal needs.
In April, the permanent debt in Pakistan stood at Rs 43,845 billion, showing an increase from Rs 41,160 billion compared to the previous year. Federal government bonds accounted for the largest share within this category, totaling Rs 42,938 billion in April, up from Rs 40,279 billion in April 2025. Notably, the floating debt segment saw significant growth, reaching Rs 10.56 trillion in April, compared to Rs 9.58 trillion in March and Rs 8.32 trillion a year earlier.
Market Treasury Bills (MTBs), a key component of the floating debt, rose to Rs 10.43 trillion from Rs 8.23 trillion a year ago, reflecting the sustained reliance on short-term borrowing to manage liquidity and budgetary pressures. On the other hand, Pakistan’s external liabilities amounted to Rs 23,841 billion in April, up from Rs 22,959 billion in March 2026 and the previous year.
The central government’s cumulative debt in Pakistan climbed to Rs 81,930 billion in April from Rs 74,936 billion in April 2025, showing a 9.33% year-on-year increase. The report highlighted that despite the rise, the pace of debt accumulation remained relatively controlled due to fiscal consolidation efforts and enhanced revenue collection. Additionally, external debt also increased, aiding foreign exchange reserves amid a contained current account deficit.
