The Government of Pakistan has raised Rs858 billion in loans during the first five months of the current fiscal year 2025-26.
Data released by the Economic Affairs Division provides a detailed breakdown. The figures show a year-on-year increase compared to the same period in the previous fiscal cycle. In November 2025 alone, the government secured Rs144 billion. Month-wise figures for the fiscal year show the following pattern:
- July: Rs198 billion
- August: Rs192 billion
- September: Rs124 billion
- October: Rs133 billion
- November: Rs144 billion
This cumulative total of Rs858 billion from July to November represents a notable increase. During the same five-month period in the previous fiscal year 2025-26, total borrowing stood at Rs741 billion. This indicates a year-on-year rise of over Rs117 billion.
The data further details foreign inflows for November 2025. The government secured an additional $40 million compared to October.
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The composition of these November inflows is critical. A total of $314.5 million was obtained under existing bilateral and multilateral agreements with international financial institutions and partner nations. Separately, $196.9 million was raised through the issuance of New Pakistan Certificates, which are diaspora investment instruments.
