Pakistan’s total external debt, till the month of June 2019, was over $105,000 million. The country has recently signed an agreement with IMF for a further $6 billion loan and agreements with the World Bank and Asian Development Bank for loans of $2 billion are in the pipeline.
The non-government sector of Pakistan had borrowed a loan of PKR 2.26 billion during the week ended on June 21, 2019, and the total borrowings for this year amount up to PKR 935.52 billion.
The non-government sector is divided into 3 broad sectors namely, the Private Sector, Public Sector Enterprises (PSEs) and the NBFI (Non-Bank Financial Institutions). The private sector has borrowed PKR 607.5 billion this fiscal year, the PSEs have borrowed PKR 326.19 billion and the NBFIs have borrowed PKR 1.83 billion.
From among the private sector banks, the Conventional Banks have borrowed PKR 410.59 billion, Islamic Banks have borrowed PKR 90.75 billion and Islamic Branches of Conventional Banks have borrowed PKR 106.16 billion.
On the other hand, the government of Pakistan had borrowed an additional PKR 59.11 billion during the week ended on June 21, 2019, which brought the total borrowings in FY-19 to PKR 1.64 trillion.
The government sector takes loans under three broad categories, depending upon the nature of the loan. The three categories are budgetary support, commodity operations and others. So overall, PKR 1.7 trillion was allocated for budgetary control, PKR 63.9 billion were allocated for commodity operations and PKR 3.14 billion were allocated for others and a miscellaneous category.
State Bank has given a total of PKR 2.78 trillion to the government, of which 2.6 trillion were allocated to the federal government, PKR 169.72 billion were allocated to the provincial government, PKR 13.38 billion were allocated to Azad Kashmir and PKR 1.6 billion were allocated to Gilgit /Baltistan.