Pakistan’s debt rises by Rs18.1 trillion under Shehbaz government

Pakistan’s debt rises by Rs18.1 trillion under Shehbaz government

Pakistan’s federal government debt increased by Rs18,143 billion between March 2024 and August 2026, averaging nearly Rs20 billion per day, according to data released by the State Bank of Pakistan (SBP).

The figures show that the government’s domestic debt accounted for the largest share of the increase, rising by Rs16,082 billion during the period. Meanwhile, external debt grew by Rs2,061 billion.

The federal government’s total debt reached Rs82,953 billion in August 2026, compared with Rs64,810 billion in February 2024, the last month before the current government took office.

Domestic debt climbed from Rs42,675 billion in February 2024 to Rs58,757 billion by August 2026, reflecting a substantial increase in the government’s reliance on domestic borrowing.

External debt also recorded an upward trend, rising from Rs22,134 billion in February 2024 to Rs24,196 billion in August 2026.

The SBP data highlights the increase in the federal government’s overall debt over the two-and-a-half-year period, with domestic borrowing contributing the bulk of the rise.