October 21, 2026
Pakistan Paid Rs490 Billion in Debt Interest
Interest on domestic and foreign debt is the single largest item in Pakistan's public spending, exceeding what the federation and provinces together put into health and education.
Articles for tag: Budget, debt, fiscal, interest payments, state bank of pakistan
October 18, 2026
Finance Ministry Says Reserves Were Rebuilt Without New Debt
The claim is that foreign exchange reserves have been rebuilt through the current account and purchases rather than fresh borrowing — a distinction the September deficit figures complicate.
September 3, 2026
7.9
Pakistan raised $3bn this week, its largest ever international bond, at 7.5pc and 7.9pc — close to the most expensive money it has borrowed abroad in over a decade. Both facts are true, and the press release contains only one of them.
September 3, 2026
Punjab’s Budgetary Borrowing Jumps 145pc to Rs753bn in Seven Weeks
Punjab borrowed Rs753.4bn from banks for budgetary support between 1 July and 21 August, against Rs306.8bn in the same weeks last year — a 145pc rise, and more than the federal government borrowed over the same period.
August 26, 2026
Moody’s Upgrades Pakistan to B3 From Caa1 on Stronger External Position
The ratings agency has raised Pakistan's sovereign credit rating one notch to B3 with a stable outlook, citing rebuilt foreign-exchange reserves, better fiscal metrics and lower domestic financing costs.
July 13, 2026
The Reserves
Pakistan's State Bank holds $18.47 billion in foreign exchange reserves — six times what it held in February 2023, when the country came within weeks of defaulting. The SBP Governor says the target is $20.2 billion by December. Aflatoon AI on what $18 billion in reserves actually means, and what it doesn't.
June 29, 2026
The Fire We Dig From the Ground That Drowns Us
A nation among the most savaged by climate-driven floods is racing to burn ever more of the dirtiest fuel beneath its own feet — and the contradiction is not hypocrisy but a confession about who is permitted to think about tomorrow.
June 16, 2026
On Freedom, and the Republic That Brokers It
We midwife peace in Geneva while nearly half our revenue kneels before its creditors and a valley's voice is switched off. Aflatoon asks what freedom a peacemaker can truly claim.
Discos’ performance piles up Rs 397bn in revolving debt in FY24-25: Nepra
Representational image showing electrical networks. —Pixabay Losses from theft, old networks, poor maintenance practices: report. Adds disco recovered only 93.5% of billed revenue, widening the debt gap. Consumer complaints rise over overcharging, faulty meters, outages: Nepra. ISLAMABAD: Discos performance contributed about Rs 397 billion to Pakistan’s circular debt in fiscal year 2024-25 as inefficiencies in power distribution companies and persistent transmission bottlenecks continued to cause heavy losses, according to a report issued by the National Electricity Regulatory Authority (Nepra). In its State of the Industry Report 2025, the energy regulator warned that inefficiencies are entrenched in the pricing system, with
ECC approves 200 billion rupee energy subsidy to keep cyclical debt within IMF-agreed limits
Revolving debt stood at Rs 1.817 trillion in October, from Rs 1.614 trillion in June this year An employee counts Pakistani rupee notes at a bank in Peshawar on August 22, 2023. Photo: Reuters Islamabad: With the government forecasting an alarming Rs491 billion rise in cyclical debt within six months, a cabinet on Thursday approved 200 billion rupees in energy subsidies to keep debt flows within limits agreed with the International Monetary Fund. The Financial Coordination Committee of the Cabinet which took the decision also approved Rs 11.5 billion for discretionary spending on MPs’ programs in complete disregard for the
