Shehbaz Sharif’s Govt Borrowed Rs. 836 Billion in April: SBP

The incumbent coalition government led by Prime Minister Shehbaz Sharif took loans worth Rs. 836.6 billion from commercial banks in April 2022. Domestic debt, which stood at Rs. 28,076 billion in March 2022, surged to Rs. 28,912 billion in April 2022, according to the State Bank of Pakistan (SBP). The government obtained this loan at an interest rate ranging from 14.75 percent to 15.5 percent, which is the highest-ever interest rate for government borrowing. An increase of Rs. 3,567 billion was noted during the last year as the domestic debt was Rs. 25,345 billion in April 2021, which was recorded at Rs. 28,912 billion in April, the SBP’s document revealed. The long-term debt included permanent debt, unfunded debt, and foreign currency loans that remained at Rs. 23,300 billion, Rs. 3,456 billion and Rs. 7.9 billion, respectively, in April. The central government’s external debt in April this year was recorded at Rs. 14,791 billion against Rs. 11,733 billion in April 2021.