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08-04-2016, 04:25 AM
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Govt?s domestic borrowing swells to Rs5,000 billion
Every Pakistani is under debt of Rs105,777
ISLAMABAD: Pakistan’s debt profile has been changing rapidly as short-term domestic borrowings have ballooned to Rs5,000 billion and jumped by Rs392 billion in one year during the financial year 2015-16 compared to an increase of Rs10 billion in the previous financial year. “The short-term borrowing is on the rise while long-term borrowing through bonds is on decline mainly because of surge in inflation expectations over coming months, and banks are ready to invest in short-term maturity of treasury bills while reluctant to invest in long-term bonds at this moment,” official sources told The News here on Wednesday. The State Bank of Pakistan (SBP) data showed that the country’s total debt jumped up to Rs19.040 trillion indicating that the every person in the country was burdened with Rs105,777 debt in case of calculating the population at 180 million. Pakistan’s public debt increased to Rs19.040 trillion on June 30, 2016 against Rs16.967 trillion on June 2015, registering a net increase in debt by Rs2.1 trillion in just one financial year. The public debt in last three years increased from Rs15.8 trillion in 2013-14 to Rs19 trillion on June 30, 2016, registering a net increase of Rs3.2 trillion in the last three financial years. Pakistan’s over one-fourth of total public debt falls in the category of short-term debt as it stood at Rs5 trillion out of total public debt of Rs19 trillion. Of the total surge in debt by Rs2.1 trillion in 2015-16, the short-term debt went up by Rs394 billion in this financial against Rs10 billion in the previous fiscal 2014-15 while the long term federal government bonds increased borrowing by Rs803 billion in FY2015-16 against Rs933 billion in the last financial year. “The SBP’s inflation expectation survey also suggests that the inflationary pressures are expected to rise, so the bankers started preferring investing in short-term borrowing instead of taking position in long-term bonds of 3, 5, 10 and even 30 years. The interest rate has come down in the aftermath of the lowest-ever inflation in the last few decades, so the bankers are **w expecting that inflationary pressure will be rebounded in coming months and they preferred to go ahead with making decisions to invest in short-term papers and showing reluctance for investing in long-term papers. The borrowing through prize bonds increased to Rs646 billion till June 30, 2016, against Rs522 billion on June 2015, registering an increase of 123 billion in 2015-16 while it had witnessed an increase of just Rs75 billion one year ago in 2014-15. The central government’s domestic debt both on long- and short-term surged by Rs1,430 billion during the fiscal year 2015-16 against Rs1,286 billion in the previous fiscal year. The central government’s domestic debt stands at Rs13.623 trillion and external debt of Rs5.417 trillion on June 30, 2016. The external debt increased by Rs642 billion in 2015-16 against a net decrease of Rs101 billion in 2014-15. أكثر... ??????? ??????: Govt?s domestic borrowing swells to Rs5,000 billion || ??????: ahlam1399 || ??????: اسم منتداك
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