Pakistan’s Debt Surges Sharply as Economic Stability Remains Elusive

Islamabad:** Amid ongoing economic uncertainty, Pakistan has witnessed a massive surge in its public debt, with alarming figures emerging for the last 20 months. According to documents released by the **State Bank of Pakistan (SBP)**, the country’s debt burden has increased significantly during the initial period of the current government.

Details reveal that **Pakistan’s total debt rose by Rs 12,169 billion** over the past 20 months, from **March 2024 to October 2025**. During this period, the federal government became **Rs 11,300 billion more indebted domestically**, highlighting a heavy reliance on local borrowing.

SBP data shows that by **October 2025**, the **total debt of the federal government reached Rs 76,979 billion**, compared to **Rs 64,810 billion in February 2024**. Similarly, the government’s **domestic debt stood at Rs 42,675 billion in February 2024**, which surged to **Rs 53,975 billion by October 2025**.

The documents further indicate that the **federal government’s external debt**, which was **Rs 22,134 billion in February 2024**, crossed **Rs 23,000 billion by October 2025**.

Economic analysts warn that the rapid increase in both domestic and external borrowing reflects deep-rooted fiscal challenges and underscores the lack of sustainable economic stability in the country, which has remained under heavy debt pressure for years.