Pakistan’s public debt has surged by Rs8.3 trillion, reaching Rs71.2 trillion—a 13% increase—amid the government’s failure to meet debt reduction targets set under the Fiscal Responsibility and Debt Limitation Act.
Meanwhile, external debt has risen to $88.7 billion as of September 2024.
According to figures from the Ministry of Finance, the country’s total public debt stood at Rs71.2 trillion in FY2024, up from Rs62.8 trillion in FY2023, marking an increase of Rs8.34 trillion over one year. By June 2024, domestic debt accounted for Rs47.16 trillion, while external debt in rupee terms stood at Rs24.08 trillion.
The external debt continued to rise during Q1-FY2025, reaching $88.7 billion by the end of September 2024. In terms of composition, multilateral development financial institutions, including the International Monetary Fund (IMF), hold the largest share of Pakistan’s external debt at 56% (as of September 2024).
Bilateral partners, including the Paris Club, account for 28% of external debt, while 14% is sourced from commercial lenders, 8% from international bond issuances, and 6% from commercial banks.
