ISLAMABAD – Pakistan’s public debt, that was recorded at Rs15.99 trillion on June 30, 2014, had increased by Rs 239 billion during July-September of 2014-15 and reached Rs 16.235 trillion by the end of September 2014, according to latest Debt Policy Statement 2014-15.
The public debt consists of external and domestic debt. As per the break-up of Rs 16.235 trillion, the domestic debt stood at Rs 11.105 trillion and external debt at Rs 5.129 trillion.
The country’s external debt had increased by $4.7 billion, as it reached to level of $65.6 billion in the previous year 2013-14 from $60.9 billion of the preceding year, according to latest Debt Policy Statement 2014-15. The EDL (External Debt and Liabilities) stock was recorded at $64.4 billion as on September 30, 2014.
Despite hefty repayments of around $5 billion made during 2013-14, external public debt recorded an increase of $3.5 billion. Government decision to re-engage with the IMF facilitated the resumption of inflows from IFIs (International Financial Institutions) as evident from increase in multilateral loans by $1.6 billion in 2013-14. Further, Pakistan successfully tapped international capital markets after a gap of 7 years and mobilised $2 billion through the issuance of Eurobonds.
Likewise, the country’s domestic debt recorded an increase of Rs.186 billion during first three months of current fiscal year and stood at Rs.11,106 billion at end September 2014. Domestic debt had registered at Rs 10.92 trillion during previous year 2013-14. The debt has shown increase of Rs1398 billion in last one year. The domestic debt could surge to Rs 11.105 trillion during current fiscal year.
