ISLAMABAD: The government of Pakistan acquired an additional debt of Rs396.07 billion during the week ended December 26, 2025, bringing the total net borrowing for the ongoing fiscal year 2026 to Rs90.94 billion, according to estimates released by the State Bank of Pakistan.
Government borrowings are broadly categorized into budgetary support, commodity operations, and other purposes. During the reported week, net borrowing for budgetary support accounted for Rs395.48 billion, while borrowing for commodity operations stood at Rs872 million. A total of Rs277 million was retired under other categories.
Cumulatively for FY26, budgetary support borrowing has reached Rs72.69 billion, while borrowings for commodity operations total Rs19.82 billion. Additionally, Rs1.57 billion has been retired in other categories. The main sources of financing for budgetary support are the State Bank of Pakistan and scheduled commercial banks.
During this fiscal year, the government has made net payments of Rs1.36 trillion to the central bank. This includes Rs1.66 trillion retired by the Federal Government, while the Provincial Government borrowed Rs331.31 billion. Meanwhile, the AJK Government retired Rs11.67 billion, and the Gilgit-Baltistan Government retired Rs15.01 billion.
Conversely, the government has extended net lending of Rs1.43 trillion to scheduled banks. The Federal Government borrowed Rs1.51 trillion from the banking sector, while the Provincial Government retired Rs83.41 billion, reflecting an ongoing effort to manage liquidity and fiscal needs through coordinated financing mechanisms.
The weekly borrowing figures underscore the government’s continued reliance on both the central bank and commercial banks to meet budgetary requirements, while also maintaining operations for commodity purchases and other fiscal obligations. Analysts note that careful monitoring of borrowing patterns is crucial to maintain fiscal stability and manage debt servicing costs.
Overall, the data reflects the complex interplay between federal and provincial financing needs, central bank operations, and scheduled bank lending, highlighting the importance of prudent fiscal management to support macroeconomic stability and government expenditure priorities.
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