Islamabad:  The federal government debt of Pakistan surged by over Rs12 trillion in the initial 20 months of the current administration, as per data published by the State Bank of Pakistan (SBP). Official records reveal that total federal government debt increased by Rs12,177 billion between March 2024 and October 2025. 

Consequently, the country’s total federal debt reached Rs 76,979 billion by October 2025, up from Rs 64,810 billion noted in February 2024. The SBP data show that the majority of this increase stemmed from domestic borrowing. 

During the examined period, domestic debt grew by roughly Rs11,300 billion, indicating the government’s heightened dependency on internal financing sources. Simultaneously, external debt also saw an uptick. According to the documents, federal government external loans rose by about Rs869 billion in the same timeframe. This elevated the total federal external debt to over Rs23 trillion by October 2025. 

The figures provided by the State Bank of Pakistan offer an overview of the federal government’s borrowing patterns over the past 20 months and underscore the escalating debt challenge faced by the nation.