Pakistan’s total debt and liabilities rose to Rs98.88tr at the end of September 2026 from Rs92.88tr a year earlier, an increase of about 6.5%, according to the latest debt and liabilities profile by the State Bank.
Total debt stood at Rs97.04tr, up about 7.7% YoY from Rs90.11tr, while total liabilities fell to Rs3.41tr from Rs4.44tr.
Total debt and liabilities servicing jumped about 33% YoY to Rs2.90tr in 1QFY27 (Jul-Sep) from Rs2.18tr in the same period last year.
Principal repayment of external debt and liabilities rose about 86% to Rs1.18tr from Rs634bn, while interest payments on debt increased about 15% to Rs1.69tr from Rs1.48tr.
Gross government domestic debt, the largest component, rose about 8% to Rs57.76tr from Rs53.43tr.
External debt increased about 7% to Rs37.20tr from Rs34.67tr. Within this, government external debt stood at Rs24.90tr against Rs23.18tr, non-government external debt at Rs7.75tr against Rs7.39tr and the country’s debt from the IMF at Rs3.01tr against Rs2.54tr.
Intercompany external debt from direct investors abroad edged down to Rs1.54tr from Rs1.56tr, and public sector enterprises’ (PSEs) domestic debt rose to Rs2.08tr from Rs2.01tr.
On liabilities, external liabilities fell about 28% to Rs2.43tr from Rs3.38tr, while domestic liabilities declined to Rs979bn from Rs1.06tr.
On the principal side, repayment of government external debt and liabilities rose to Rs653bn from Rs479bn, while non-government external debt repayment jumped to Rs467bn from Rs95bn.
Principal paid to the IMF was unchanged at Rs60bn. Short-term principal servicing stood at Rs77bn against Rs32bn, all of it government external debt.
On the interest side, payments on gross government domestic debt rose about 18% to Rs1.39tr from Rs1.18tr, while interest on external debt edged up to Rs305bn from Rs300bn.
Interest paid to the IMF rose to Rs39bn from Rs33bn, whereas interest on liabilities fell to Rs28bn from Rs65bn. Accrued interest on long-term zero coupon PIBs stood at Rs159bn against Rs56bn.
