Central government debt rises to Rs79.32 trillion in January 2026

Pakistan’s central government debt reached Rs79.32 trillion in January 2026, according to data released by the State Bank of Pakistan. This marks a significant increase from the Rs72.12 trillion recorded in January 2025, reflecting a rise of Rs7.2 trillion, or approximately 10 per cent, over the past year.

Sources indicate that the increase in central government debt was primarily driven by domestic borrowing, which continues to form the majority of the federal government’s liabilities. Domestic debt accounted for about 71 per cent of the total central government debt as of January 2026.

Within the domestic debt category, long-term borrowing remains the dominant component, according to available data. The central government’s domestic debt rose to Rs55.98 trillion in January 2026, up from Rs50.24 trillion in January 2025. This represents an increase of around Rs5.73 trillion over the calendar year.

Month-on-month figures also show an upward trend, with Arif Habib Limited noting a 1 per cent increase in central government debt compared to the previous month. The data highlights a continued reliance on domestic sources to meet the government’s financing needs.

State Bank of Pakistan figures, as cited by sources familiar with the matter, underscore the ongoing growth in government borrowing and the predominance of domestic debt in the overall structure. The information reflects the latest available trends in Pakistan’s central government debt as of January 2026.