Govt debt rises by Rs410bn

Updated December 07, 2019

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According to latest data issued by the State Bank on Friday, the central government debt stock stood at Rs32.197 trillion by October end, versus from Rs31.787tr in June this year.  — APP/File
According to latest data issued by the State Bank on Friday, the central government debt stock stood at Rs32.197 trillion by October end, versus from Rs31.787tr in June this year. — APP/File

KARACHI: The central government’s debt rose by Rs410 billion during the first four months of 2019-20, plunging by 74.8 per cent from an increase of Rs1,627bn in same period last year.

According to latest data issued by the State Bank on Friday, the central government debt stock stood at Rs32.197 trillion by October end, versus from Rs31.787tr in June this year.

Meanwhile, the same figure at the end of October 2018 clocked in at Rs25.839tr, from Rs24.212tr in June of same year.

On the other hand, external debt declined during the four-month period to Rs10.659tr at the end of October, as compare to Rs11.055tr in June – registering a decrease of Rs396bn.

The government has lately stooped borrowing from the SBP and relies largely on scheduled banks’ to meet its fiscal gaps.

During the period under review, it raised Rs1.084tr through federal government bonds which reached a total of Rs12.267tr by October end, compared to Rs11.183tr as of June 30.

Published in Dawn, December 7th, 2019