ISLAMABAD: The government has borrowed Rs 650 billion during the period from July to October in the current fiscal year (FY 2025–26), compared to Rs 480 billion during the same period of the previous year, according to official documents of the Economic Affairs Division.
This indicates an increase of Rs 170 billion in just four months and reflects a 35 percent rise in borrowing compared to last year.
The documents reveal that the government has set an overall borrowing target of Rs 5,777 billion for the entire fiscal year 2025–26. So far, borrowing has been distributed as Rs 198 billion in July, Rs 192 billion in August, Rs 124 billion in September, and Rs 133 billion in October.
In terms of foreign loans, the government received $471.2 million in October alone. This was $40 million more than September. Out of this, $278 million came through bilateral and multilateral agreements, while $193.1 million was received through New Pakistan Certificates.
Under the Saudi oil facility, Pakistan received $100 million in October, while a total of $400 million has been received so far this fiscal year. The government estimates receiving $1 billion from this facility during the entire year.
According to the documents, Pakistan has set a target of borrowing more than $25 billion in the current fiscal year, including $12 billion rollover from friendly countries.
The borrowing plan also includes a $2 billion tranche from the IMF, along with two installments of $400 million each under the IMF’s Resilience and Sustainability Facility (RSF).
It is further stated that the IMF Executive Board meeting is scheduled for October 8, after which $1.2 billion is expected to be released by August 9, following approval of the staff-level agreement.
