ISLAMABAD (Eshfak Mughal):- The coalition government led by Prime Minister Shehbaz Sharif has added Rs.934 billion in total debt stock of federal government mainly because of depreciation of Pak Rupee against US Dollar during only two months.

According to the latest figures of the State Bank, the Central Government’s Debt Stock has been surged by Rs.934 billion from Rs.43.704 trillion to Rs.44.638 trillion during April to May 2022.

The figures show that the Central Government debt stock was swelled to Rs.44.638 trillion on 31st May 2022.

The new coalition government has borrowed Rs15.5 billion per day during the period to run government affairs. Contrary of that ratio, the PTI led govt had added up Rs5 trillion in the total debt stock during first nine months of the current fiscal year, according to the SBP.

The figures show that that the PTI government has borrowed averagely Rs18.5 billion per day during the first nine months of the current fiscal year.

The new coalition government added Rs802 billion in external loans mainly due to depreciation of Pakistani Rupee against US Dollar during the two months. The US dollar appreciated against Pak Rupee by Rs.14 from Rs185 to Rs 199 per US dollar during 1st April to 31st May 2022.

Substantial increase was witnessed in external loans despite heavy repayments of principle debt and debt servicing was made by the government during the last two months.

According to the SBP, the Central Government Domestic Debt was also increased by Rs131 billion from Rs.28.913 trillion to Rs.29.044 trillion during the two months. Out of total Central Government Domestic Debt, the long term debt was increased by Rs66 billion from Rs.23.301 trillion to Rs.23.367 trillion.

The govt has raised Rs127 billion through Pakistan Investment Bonds and Prize Bonds during the two months. However, it has repaid Rs.61 billion against the total financial obligations of Saving Schemes during the period. The total debt stock of Saving Schemes has been reduced from Rs.3,331.4 billion to Rs.3,270.6 billion after this repayment.    

The govt has raised Rs.69 billion through issuance of Market Treasury Bills (short term debt) during the period. After that borrowing, the total debt stock against Market Treasury Bill has been swelled to Rs.5,526 billion to Rs.5,595 billion in May 2022.

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