Pakistan: Domestic and External Debt Statistical Bulletin - October 2021

Transcription

1. 5 .1 Pakistan's Debt and Liabilities-Summary (End Period Stock) (Billion Rupees) Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 P I. Government Domestic Debt 22,477.7 23,282.5 23,702.5 24,314.1 25,552.2 26,265.1 II. Government External Debt 11,658.1 11,824.5 11,986.7 11,957.8 11,288.6 12,432.4 III. Debt from IMF 1,071.3 1,291.5 1,260.7 1,193.5 1,164.9 1,161.5 IV. External Liabilities1 1,642.5 1,663.3 1,497.3 1,477.9 1,324.3 1,378.4 V. Private Sector External Debt 2,613.6 2,628.2 2,607.4 2,482.2 2,411.9 2,540.9 VI. PSEs External Debt 622.7 869.5 850.4 934.9 941.7 1,061.0 1,397.7 1,490.5 1,478.6 1,461.2 1,467.7 1,436.7 VIII. Commodity Operations Debt2 619.3 813.4 753.6 734.2 700.9 904.0 IX. Intercompany External Debt from Direct Investor abroad 701.7 727.9 711.4 644.2 617.7 648.7 A. Total Debt and Liabilities (sum I to IX) 42,804.6 44,591.5 44,848.6 45,200.1 45,470.0 47,829.0 B. Gross Public Debt (sum I to III) 35,207.0 36,398.6 36,949.9 37,465.5 38,005.8 39,859.1 C. Total Debt of the Government - FRDLA Definition3 31,452.4 33,235.3 33,729.5 33,993.0 33,724.5 35,756.5 D. Total External Debt & Liabilities (sum II to VI+IX) 18,310.0 19,005.0 18,913.9 18,690.6 17,749.1 19,223.1 VII. PSEs Domestic Debt E. Commodity Operation and PSEs Debt (sum VI to VIII) 2,639.7 3,173.5 3,082.6 3,130.3 3,110.4 3,401.8 Guaranteed Debt & liabilities 1,058.4 1,527.1 1,449.9 1,520.8 1,496.4 1,745.8 Non-guaranteed Debt & liabilities 1,581.3 1,646.4 1,632.7 1,609.5 1,613.9 1,656.0 As percent of GDP Total Debt and Liabilities 103.0 107.3 94.0 94.7 95.3 100.3 Gross Public Debt 84.7 87.6 77.4 78.5 79.7 83.5 Total Debt of the Government - FRDLA Definition 75.7 80.0 70.7 71.3 70.7 74.9 Total External Debt & Liabilities 44.1 45.7 39.6 39.2 37.2 40.3 6.4 7.6 6.5 6.6 6.5 7.1 Guaranteed Debt & liabilities 2.5 3.7 3.0 3.2 3.1 3.7 Non-guaranteed Debt & liabilities 3.8 4.0 3.4 3.4 3.4 3.5 54.1 56.0 49.7 51.0 53.6 55.1 FY20R FY20R FY21P FY21P FY21 P FY21 P 41,556.3 41,556.3 47,709.3 47,709.3 47,709.3 47,709.3 3,754.6 3,163.3 3,220.4 3,472.5 4,281.3 4,102.6 166.4018 168.1662 165.7857 159.5918 152.6060 157.3105 Commodity Operation and PSEs Debt Government Domestic Debt Memorandum Items GDP (current market price) Government Deposits with the banking system4 US Dollar, last day average exchange rates Source: Statistics & Data Warehouse Department SBP 1 External liabilities include Central bank deposits, SWAPS, Allocation of SDR and Nonresident LCY deposits with central bank Includes borrowings from banks by provincial governments and PSEs for commodity operations. As per Fiscal Responsibility and Debt Limitation Act, 2005 (FRDLA) amended in June 2017, "Total Debt of the Government" means the debt of the government (including the Federal Government and the Provincial Governments) serviced out of the consolidated fund and debts owed to the International Monetary Fund (IMF) less accumulated deposits of the Federal and Provincial Governments with the banking system. 4 Accumulated deposits of the Federal and Provincial Governments with the banking system Notes:1. For conversion into Pak Rupees from US Dollars, last day average exchange rates prepared by Domestic Markets & Monetary Management Department have been used for stocks. 2. SBP enhanced coverage & quality of external debt statistics w.e.f March 31, 2010. For revision study see link: http://www.sbp.org.pk/ecodata/Revision-EDS.pdf 3. The data has been revised by incorporating the private sector loans channeled through permissible offshore accounts. The revision study of external sector statistics is available at link: http://www.sbp.org.pk/departments/stats/Notice/Rev-Study-External-Sector.pdf 2 3 114
2. 5 .2 Pakistan's Debt and Liabilities Profile (Billion Rupees) Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 P Pakistan's Total Debt and Liabilities (I +II) YoY Growth (in %)4 As percent of GDP I. Pakistan's Total Debt (A+B+C) YoY Growth (in %)4 As percent of GDP 42,804.6 44,591.5 44,848.6 45,200.1 45,470.0 47,829.0 21.9 103.0 40,542.8 22.7 97.6 10.9 107.3 42,114.8 11.5 101.3 8.0 94.0 42,597.8 8.7 89.3 10.3 94.7 42,988.0 11.1 90.1 6.2 95.3 43,444.8 7.2 91.1 7.3 100.3 45,546.5 8.1 95.5 A. Government Domestic Debt B. PSEs Domestic Debt C. External Debt (a+b+c+d) a) Government External Debt b) Non-government External Debt c) Country's Debt from IMF d) Inter Company Debt. 22,477.7 1,397.7 16,667.4 11,658.1 3,236.3 1,071.3 701.7 23,282.51,490.5 17,341.7 11,824.5 3,497.8 1,291.5 727.9 23,702.5 1,478.6 17,416.6 11,986.7 3,457.8 1,260.7 711.4 24,314.1 1,461.2 17,212.7 11,957.8 3,417.2 1,193.5 644.2 25,552.2 1,467.7 16,424.8 11,288.6 3,353.6 1,164.9 617.7 26,265.1 1,436.7 17,844.7 12,432.4 3,602.0 1,161.5 648.7 II. Total Liabilities (D+E) YoY Growth (in %)4 As percent of GDP D. External Liabilities 1 E. Domestic Liabilities 2 2,261.8 9.4 5.4 1,642.5 619.3 FY20R 41,556.3 2,476.7 0.4 6.0 1,663.3 813.4 FY20R 41,556.3 2,250.8 (4.6) 4.7 1,497.3 753.6 FY21P 47,709.3 2,212.0 (2.4) 4.6 1,477.9 734.2 FY21P 47,709.3 2,025.2 (10.5) 4.2 1,324.3 700.9 FY21 P 47,709.3 2,282.4 (7.8) 4.8 1,378.4 904.0 FY21 P 47,709.3 End Period Stocks GDP (mp) FY-19 Total Debt and Liabilities Servicing (III+IV+V) YoY Growth (in %)4 As percent of GDP III. Principal Repayment of External Debt and Liabilities (e+f+g+h) 3 (e) Government External debt and Liabilities (f) Non-government External debt (g) Country's Debt from IMF (h) Monetary Authorities external Liabilities IV. Interest Payment on debt (i+j+k) (i) Government Domestic Debt (j) PSE Debt (k) External Debt Government External debt Non-government External debt Country's Debt from IMF V. Interest Payment on Liabilities (l+m) (l) External Liabilities (m) Domestic Liabilities Memorandum Item Servicing (Principal) Short Term (Excluding item "c" given below) a) Government External Debt b) PSEs Non-Guaranteed Debt c) Scheduled Banks Borrowing Net Flows 4 d) Private Non-Guaranteed Debt GDP (mp) Servicing During the Period FY-21 P FY20 Jul-Sep Oct-Dec Jan-Mar R Apr- Jun 3,132.9 56.9 8.2 4,451.7 42.1 10.7 1,225.6 39.8 2.6 1,224.9 (6.7) 2.6 1,105.9 29.1 2.3 1,003.7 (28.5) 2.1 914.8 1,531.6 429.8 438.3 440.2 324.3 765.8 97.2 51.7 2,143.2 1,763.9 379.3 269.1 90.7 19.6 74.9 26.0 49.0 1,134.9 201.0 118.0 77.8 2,764.7 2,304.3 460.3 296.1 139.0 25.3 155.4 50.8 104.6 194.9 25.8 42.1 167.0 768.9 684.1 84.8 52.8 25.7 6.4 26.9 12.0 14.8 174.1 55.4 48.5 160.3 763.5 673.2 90.3 55.9 28.1 6.3 23.1 9.1 14.1 218.0 28.5 35.2 158.5 637.4 570.8 66.6 47.7 12.9 6.0 28.2 14.8 13.4 223.8 54.0 46.6 661.6 580.9 80.7 52.3 23.0 5.3 17.7 0.5 17.3 278.3 273.9 58.5 32.7 52.7 18.3 203.3 4,531.1 23.4 75.0 FY19R 188.7 1.9 4,633.2 (61.9) 83.3 FY20R 45.5 606.2 (55.9) 13.0 24.7 385.4 (37.9) 8.0 50.4 985.8 16.5 2.3 6.0 1,470.0 53.0 12.4 FY21P FY21P FY21P FY21P 38,086.2 41,556.3 47,709.3 47,709.3 47,709.3 47,709.3 Source: Statistics & Data Warehouse Department SBP 1 External liabilities include Central bank deposits, SWAPS, Allocation of SDR and Nonresident LCY deposits with central bank. 2 Includes borrowings from banks by provincial governments and PSEs for commodity operations. 3 As per the guidelines available in IMF's External Debt Guide for Compilers and Users 2003, the principal repayment of short-term debt is excluded from over all principal repayments. However, for the information of data users, short-term repayment of principal has been reported as Memorandum Items. For details see link: http://www.sbp.org.pk/departments/stats/Notice/Press%20Release-external%20debt-_Revised_.pdf 4 Net flows of short term borrowings by banks reflect the net increase (+) or decrease (-) in the stock of short term bank borrowings during the period. Notes: 1. SBP enhanced coverage & quality of external debt statistics w.e.f March 31, 2010. For revision study see link: http://www.sbp.org.pk/ecodata/Revision-EDS.pdf 2. Debt and liabilities show end-period outstanding stock positions and debt servicing reflects principal and interest payments during the period. 3. For conversion into Pak Rupees from US Dollars, last day average exchange rates prepared by Domestic Markets & Monetary Management Department have been used for stocks and during the period average exchange rates for debt servicing. 4. YoY growth external debt and liabilities stocks and servicing is based on the corresponding last year-end period stocks and during the period servicing, respectively. 115
3. 5 .3 Government Domestic Debt and Liabilities End period position (Billion Rupees) FY20 FY21 Jul-20 Aug-20 May-21 Jun-21 Jul-21 Aug-21 14,023.5 15,904.1 14,379.3 14,617.9 15,726.4 15,904.1 15,399.7 15,398.4 2.8 2.8 2.8 2.8 2.8 2.8 2.8 2.8 Federal Government 3.00 % 1971 (Permanent) 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 Loans matured but not encashed 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 13,286.5 15,457.5 13,642.9 13,879.0 15,162.0 15,457.5 14,979.4 14,994.1 Debt Instruments I. Permanent Debt (1+2+3) 1. Market Loans 2. Federal Government Bonds Public Sector - - - - - - - - Under E.R.O. 1972 .. .. .. .. .. .. .. .. Compensation Bonds1 .. .. .. .. .. .. .. .. Shah Nawaz Bhutto Sugar Mills - - - - - - - - Pakistan Engineering Company 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Issued at Low Yield Bonds - - - - - - - - GOP Ijara Sukuk 3 Years 198.2 665.3 246.0 285.4 636.3 665.3 665.3 665.3 Bai-Muajjal of Sukuk 201.0 201.0 201.0 201.0 201.0 201.0 201.0 201.0 5.00 % Income Tax Bonds .. .. .. .. .. .. .. .. Under Land Reforms 1977 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Govt. Bonds issued to SLIC (Capitalization) 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 Special national Fund Bonds .. .. .. .. .. .. .. .. Bearer national Fund Bonds2 .. .. .. .. .. .. .. .. Federal Investment Bonds .. .. .. .. .. .. .. .. 12,886.0 14,590.0 13,194.6 13,391.3 14,323.4 14,590.0 14,111.8 14,126.5 Pakistan Investment Bonds (PIBs) 3. Prize Bonds3 II. Floating Debt Bai Muajjal4 734.1 443.7 733.6 736.1 561.6 443.7 417.4 401.4 5,578.3 6,680.4 5,332.9 5,235.4 6,662.8 6,680.4 7,743.5 7,238.3 .. .. .. .. .. .. .. .. 5,575.5 6,676.9 5,330.0 5,232.6 6,659.3 6,676.9 7,740.0 7,234.8 MTBs for Replenishment of Cash5 2.8 3.5 2.8 2.8 3.5 3.5 3.5 3.5 Outright Sale of MRTBs to Banks - - - - - - - - 3,673.6 3,645.9 3,673.9 3,676.9 3,645.8 3,645.9 3,645.8 3,635.8 3,523.5 3,497.9 3,523.8 3,528.4 3,503.9 3,497.9 3,498.1 3,489.2 48.5 47.2 48.6 48.8 47.2 47.2 47.2 47.2 101.5 100.8 101.5 99.7 94.8 100.8 100.5 99.3 7.2 6.7 7.1 7.1 6.6 6.7 6.9 7.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 .. .. .. .. .. .. .. .. US Dollar Bearer Certificates 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 FCBC 5 Years 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Special US Dollar Bonds 6.9 6.5 6.8 6.8 6.3 6.5 6.6 6.8 … 28.1 … - 24.1 28.1 30.7 55.4 23,282.5 26,265.3 23,393.2 23,537.3 26,065.8 26,265.3 26,826.7 26,334.9 592.5 693.1 593.0 564.1 689.5 693.1 692.3 693.5 23,875.0 26,958.4 23,986.3 24,101.4 Market Treasury Bills III. Unfunded Debt Saving Schemes (Net of Prize Bonds) Postal Life Insurance GP Fund* IV. Foreign Currency Loans6 Foreign Exchange Bearer Certificate FCBC 3 Years V. Naya Pakistan Certificates8 Domestic Debt (I+II+III+IV) Government Domestic Liabilities7 Government Domestic Debt and Liabilities 1. For nationalized banks, petroleum, shipping and vegetable oil. 2. Include Rollover (I, II & III). 3. Includes Premium Prize Bonds (Registered) 4. Includes Rs. 0.013 billion of Treasury Bills on Tap. 5. Includes SBP BSC, NIBAF and PSPC Tbills holding of Rs 3.4705 Billion. 6. It includes FEBCs, FCBCs, DBCs and Special US Dollar Bonds held by the residents. 7. This reflects provincial governments’ borrowings from banks for commodity operations. 8. Naya Pakistan Certificates held by resident only. Archive Link: http://www.sbp.org.pk/ecodata/DDArchive.xls 116 26,755.3 26,958.4 27,519.0 27,028.4 *Source: Ministry of Finance (Budget Wing)
4. 5 .4 Pakistan's External Debt and Liabilities ITEM A. Public debt (1+2+3) 1. Government debt i) Long term (>1 year) Paris club Multilateral Other bilateral Euro/Sukuk global bonds Military debt Commercial loans/credits Local Currency Securities (PIBs) Saudi fund for development. (SFD) NBP / BOC deposits / PBC** NPC** ii) Short term (<1 year) Multilateral* Local Currency Securities (TBills) Commercial loans/credits 2. From IMF i) Federal government ii) Central bank 3. Foreign exchange liabilities i) Central bank deposits ii) Foreign currency bonds (NHA / NC) iii) Other liabilities (SWAP) iv) Allocation of SDR1 v) Nonresident LCY deposits with central bank B. Public sector enterprises (PSEs) a. Guaranteed debt Paris club Multilateral Other bilateral Commercial loans Sandak metal bonds b. Non-guaranteed debt i) Long term (>1 year) ii) Short term (<1 year) iii) non-guaranteed bonds C. Banks a. Borrowing i) Long term (>1 year) i) Public sector ii) Private sector ii) Short term (<1 year)2 i) Public sector ii) Private sector b. Nonresident deposits (LCY & FCY) i) Public sector ii) Private sector D. Private Sector a. Guaranteed debt b. Non-guaranteed debt i). Loans i) Long term (>1 year) ii) Short term (<1 year) ii) non-guaranteed bonds iii) Trade credits iv) Other debt liabilities3 E. Debt liabilities to direct investors - Intercompany debt Total external debt & liabilities (A+B+C+D+E) Public debt including PSEs (A+B+C.a.i.i+C.a.ii.i+C.b.i) Official liquid reserves4 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 R (Million US$) Jun-21P 86,368.5 70,060.0 67,370.9 10,785.9 28,860.3 13,362.9 5,300.0 8,968.6 41.0 52.2 2,689.1 1,057.8 1,345.6 285.7 6,437.8 1,424.9 5,012.9 9,870.7 5,700.0 2,818.5 1,349.2 3.0 3,742.4 2,639.0 2,499.0 140.0 1,103.4 495.0 608.4 4,668.4 2,874.2 18.1 18.1 2,856.1 192.0 2,664.2 1,794.2 29.8 1,764.4 11,038.2 11,038.2 10,011.8 9,807.3 204.5 781.9 244.6 4,217.1 110,034.6 87,885.0 70,314.5 68,773.0 10,924.3 30,898.0 13,427.5 5,300.0 8,068.5 95.7 59.0 1,541.5 814.1 585.9 141.5 7,679.8 2,833.3 4,846.6 9,890.7 5,700.0 2,827.5 1,360.0 3.2 5,170.7 4,243.6 3,698.3 545.2 927.2 316.6 610.6 4,619.6 2,777.1 15.7 15.7 2,761.4 94.6 2,666.8 1,842.6 43.6 1,798.9 11,009.2 11,009.2 9,966.7 9,618.1 348.6 781.9 260.7 4,328.8 113,013.4 88,938.3 72,302.5 71,131.0 11,202.7 32,385.3 14,411.5 5,300.0 7,643.0 119.0 69.0 0.5 1,171.5 510.5 546.0 115.0 7,604.4 2,898.9 4,705.5 9,031.4 4,700.0 2,936.3 1,391.5 3.6 5,129.4 4,200.0 3,672.0 528.0 929.4 316.6 612.8 4,408.4 2,443.0 15.5 15.5 2,427.6 3.0 2,424.6 1,965.4 34.4 1,931.0 11,319.0 11,319.0 10,259.1 9,974.8 284.4 781.9 278.0 4,291.4 114,086.5 91,666.6 74,927.7 74,012.4 11,546.6 33,165.2 14,602.0 5,300.0 9,009.3 192.0 68.8 128.5 915.4 575.4 340.0 7,478.6 2,966.2 4,512.4 9,260.3 3,700.0 4,133.7 1,423.8 2.8 5,858.3 4,929.0 4,300.0 629.0 929.3 306.4 622.9 4,427.9 2,204.8 13.0 13.0 2,191.7 17.0 2,174.8 2,223.1 54.8 2,168.3 11,125.8 11,125.8 10,073.0 9,834.0 239.0 781.9 270.9 4,036.6 117,115.1 90,283.9 73,972.3 73,139.5 10,438.1 32,721.3 14,722.2 5,300.0 9,160.7 347.6 67.6 382.1 832.8 450.7 382.1 7,633.7 3,414.8 4,218.9 8,677.9 2,700.0 4,572.0 1,401.0 4.9 6,170.8 5,213.0 4,598.0 615.0 957.8 306.4 651.4 4,689.4 2,306.8 11.1 11.1 2,295.7 95.6 2,200.2 2,382.6 54.1 2,328.5 11,115.2 11,115.2 10,062.5 9,834.4 228.0 781.9 270.9 4,047.7 116,307.1 95,177.3 79,031.0 78,172.9 10,725.9 33,836.1 14,821.5 7,800.0 9,695.6 462.6 64.7 766.6 858.1 505.8 352.3 7,383.7 3,437.0 3,946.8 8,762.6 2,700.0 4,649.6 1,410.1 2.9 6,744.9 5,351.0 4,760.0 591.0 1,393.9 255.0 638.9 500.0 5,266.6 2,649.5 4.0 4.0 2,645.6 182.0 2,463.6 2,617.1 63.9 2,553.2 10,886.0 10,886.0 9,835.5 9,684.4 151.1 781.9 268.7 4,124.0 122,198.8 90,332.6 93,194.0 94,105.1 97,596.6 96,604.3 102,168.1 11,397.0 12,501.0 12,298.3 13,560.0 13,638.0 17,429.0 Source: Statistics & Data Warehouse Department SBP *The amount of short-term debt from IDB rolled over in Dec 2011 for more than one year has been reclassified under the category of Long-term government debt from multilateral donors. **:Pakistan Banao Certificates (PBC) and Naya Pakistan Certificates (NPC) are issued by Government of Pakistan for overseas Pakistanis.. 1 Since Mar 2010 and onwards, Allocations of SDRs are recorded as foreign liability as per BPM6. 2The stock of short-term borrowings by banks as on June 30th, 2011 and onwards has been obtained from banks for each currency of transaction and converted into equivalent US$. Previously, it was captured from data being reported by banks in equivalent Pak rupees. 3Other debt liabilities of others sector in IIP statement. 4. Includes cash foreign currency and excludes CRR. Note: 1. SBP enhanced the coverage and quality of external debt statistics w.e.f March 31, 2010. For Revision study, see the link at :http://www.sbp.org.pk/ecodata/Revision-EDS.pdf 2. TBills-Treasury Bills, PIBs-Pakistan Investment Bonds, NHA-national Highway Authority, NC-national Construction, LCY= Local Currency, 3. External debt statistics is revised w.e.f Sep, 2014 by incorporating the transaction made through offshore accounts. Detail of changes are available at following link: http://www.sbp.org.pk/departments/stats/Notice/Rev-Study-External-Sector.pdf 4: As part of annual revision of IIP,data from 31-Dec-2019 to 31-Mar-2020 has been revised. Source: For A.1 except local currency securities (PIBs & Tbills), A.2.i and B.a, Economic Affairs Division, for rest State Bank of Pakistan. 117
5. 5 .5 Pakistan’s External Debt Servicing-Principal (Million US $) ITEM 1. Public debt (a+b+c) a) Government debt Paris club Multilateral Other Bilateral Euro/Sukuk global bonds Local Currency Securities (PIBs) Military Commercial loans /credits Saudi fund for development. (SFD) NBP/BOC deposits b). To IMF i). Federal government ii). Central bank c) Foreign exchange liabilities i) Central bank deposits ii) Foreign currency loans /bonds (NHA/NC) iii) Swap 2. PSEs guaranteed debt Paris Club Multilateral Other bilateral Commercial loans Sandak Metal Bonds 3. PSEs non-guaranteed debt 4. Scheduled banks' borrowing 5. Private guaranteed debt 6. Private non-guaranteed debt 7. Private non-guaranteed bonds Total Long Term (1+2+3+4+5+6+7) FY20 FY21 Apr-Jun 20 Jul-Sep 20 Oct-Dec 20 8,362 7,118 9,152 5,072 3,022 2,816 2,424 1,170 2,381 1,079 Jan-Mar 21 Apr-Jun-21 P 2,598 1,375 1,749 1,448 376 9 5 - 5 - 4 1,455 1,555 306 443 319 454 339 407 91 21 70 5 11 5 1,000 - - - - - - - - - - - - - - - - - - - - 3,879 3,418 2,484 658 750 910 1,100 - - - - - - - 1 - - - - - - 744 1,079 207 253 303 222 301 - - - - - - - 744 1,079 207 253 303 222 301 500 3,000 - 1,000 1,000 1,000 - 500 3,000 - 1,000 1,000 1,000 - - - - - - - - - - - - - - - 274 109 - 40 14 40 14 - - - - - - - - - - - - - - 64 52 - 26 - 26 - 210 58 - 14 14 14 14 - - - - - - - 163 62 13 - 10 31 21 9 12 3 0 3 2 7 - - - - - - - 822 846 370 114 317 107 307 - - - - - - - 9,630 10,181 3,408 2,578 2,726 2,778 2,099 1,719 1,006 642 351 204 332 119 1,181 12 783 - 484 - 272 - 155 - 318 - 39 - 29,175 21,745 9,375 3,630 2,384 6,220 9,512 (386) (116) (95) (334) (236) 104 350 526 222 158 78 50 14 80 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Memorandum Items Short Term Debt Servicing - Principal(Excluding Item No. 3 below)1 1.Government debt 2. PSEs non-guaranteed debt1 3. Scheduled banks' borrowing Net Flows2 4. Private non-guaranteed debt Rescheduled/Rollover Commercial loans /credits NBP/BOC IDB Central bank deposits Source: Statistics & Data Warehouse Department SBP 1. As per the guidelines available in IMF's External Debt Guide for Compilers and Users 2003, the principal repayment of short-term debt is excluded from over all principal repayments. However, for the information of data users, short term repayment of principle has been reported as Memorandum Items. For details see link: http://www.sbp.org.pk/departments/stats/Notice/Notice-17-May-2012.pdf Other Liabilities (SWAP) 2. Net flows of short-term borrowings by banks reflect the net increase (+) or decrease (-) in the stock of short-term bank borrowings during the period. Note: PIBs-Pakistan Investment Bonds, NHA-national Highway Authority, NC-national Construction. 118
6. 5 .6 Pakistan’s External Debt Servicing-Interest (Million US $) ITEM 1. Public debt (a+b+c) a) Government debt i). Long term (> 1 year) Paris club Multilateral Other Bilateral Euro/Sukuk global bonds Local Currency Securities (PIBs) Military Commercial loans /credits Saudi fund for development. (SFD) NBP/BOC deposits ii). Short-term (< I year) Multilateral Commercial Loans /Credits Local Currency Securities (TBills) b). To IMF i). Federal government ii). Central bank (Including Interest on SDR Allocation) c) Foreign exchange liabilities i) Central bank deposits ii) Foreign currency loans /bonds (NHA/NC) iii) Other Liabilities (SWAP) 2. PSEs guaranteed debt Paris Club Multilateral Other bilateral Commercial loans Sandak Metal Bonds 3. PSEs non-guaranteed debt Long term (> 1 year) Short term (< 1 year) 4. Scheduled banks' borrowing Long term (> 1 year) Short term (< 1 year) 5. Private guaranteed debt 6. Private non-guaranteed debt Long term (> 1 year) Short term (< 1 year) 7. Private non-guaranteed bonds Total external liabilities servicing (1+2+3+4+5+6+7) Apr-Jun 20 Jul-Sep 20 Oct-Dec 20 Jan-Mar 21 Apr-Jun 21 P FY20 FY21 2,352 1,872 1,678 1,303 559 415 427 317 443 347 432 301 376 339 1,808 1,261 392 304 338 285 335 119 1 2 - 1 .. .. 477 448 132 105 115 114 115 364 114 18 58 10 37 9 396 362 148 32 149 32 148 - - - - - - - - - - - - - - 450 336 92 108 64 102 62 - - - - - - - 1 - - - - - - 64 42 23 13 9 16 4 48 41 17 11 9 16 4 16 1 6 1 - - - - - - 160 150 37 38 40 38 34 - 97 - 24 26 25 23 160 52 37 14 14 13 11 320 225 107 72 57 94 3 181 156 2 57 32 65 3 - - - - - - - 139 69 106 16 25 29 - 120 81 10 53 12 6 10 - - - - - - - - - - - - - - 100 58 - 52 - 6 - 20 23 10 2 12 - 10 - - - - - - - 18 11 2 3 3 3 3 17 11 2 3 3 3 3 .. - - - - - - 81 25 9 12 5 3 5 1 1 .. 0 .. .. .. 80 24 9 11 5 3 4 - - - - - - - 658 443 211 87 154 70 132 631 432 205 78 154 70 131 27 11 5 9 1 .. 1 3,229 - - - - - - 2,237 791 Note: T-bills-Treasury Bills, PIBs-Pakistan Investment Bonds, NHA-national Highway Authority, NC-national Construction. Archive Link: http://www.sbp.org.pk/ecodata/pakdebtsvr_Arch.xls 119 581 617 514 525 Source: Statistics & Data Warehouse Department SBP
7. 5 .7 Ownership Classification of the Federal Government Debt (Million Rupees) As on Debt1 (30th June) HELD Other BY State Bank Deposit of Money Foreign Pakistan Banks Institutions Institutions and Banks Others IntraGovernment Debt Financial International Governments 1999 2,463,031 358,320 321,688 56,272 630,551 471,486 624,714 29,539 2000 2,790,632 540,169 242,548 48,461 656,157 517,293 786,004 41,939 2001 3,127,300 614,689 249,761 63,335 772,558 592,503 834,454 45,988 2002 2,699,897 317,577 416,679 79,453 576,066 408,868 901,254 56,864 2003 2,846,031 109,725 599,323 98,793 415,954 612,774 1,009,462 41,103 2004 3,477,022 133,196 634,213 33,887 809,193 779,054 1,087,479 49,161 2005 3,758,747 331,195 579,376 120,850 925,933 873,123 928,270 53,350 2006 4,183,214 516,583 553,147 109,160 1,009,336 947,448 1,047,540 58,730 2007 4,619,733 397,374 826,518 111,005 1,120,525 998,166 1,166,145 66,196 2008 5,847,147 1,056,761 659,942 178,467 1,506,404 1,216,912 1,228,661 74,413 2009 7,180,590 1,145,220 911,741 182,458 1,921,684 1,506,006 1,513,481 131,623 2010 8,691,615 1,164,378 1,476,283 253,463 2,182,905 1,574,303 2,040,283 138,061 2011 10,352,245 1,365,857 2,214,190 322,469 2,445,711 1,713,683 2,290,335 146,907 2012 12,059,939 1,805,289 2,829,795 433,524 2,618,991 1,924,725 2,447,615 152,999 2013 13,842,361 2,322,373 3,829,262 419,224 2,548,941 1,912,733 2,809,828 140,259 2014 15,610,328 2,936,575 4,034,757 551,812 2,660,255 2,190,734 3,236,195 147,622 2015 16,814,814 2,325,787 5,681,232 604,198 2,574,919 2,200,356 3,428,322 152,967 2016 18,886,342 2,050,313 7,036,747 659,295 2,879,698 2,537,926 3,722,362 157,137 2017 20,633,290 2,471,747 7,437,548 647,383 2,982,634 2,936,049 4,157,929 134,617 2018 24,073,706 3,597,065 7,569,680 675,468 3,532,342 4,263,463 4,435,688 138,374 2019 31,635,436 7,759,903 6,931,347 758,374 4,657,812 6,397,308 5,130,692 152,197 2020 34,956,983 7,192,556 9,398,381 1,036,325 5,332,906 6,491,611 5,505,204 150,078 Source: Statistics & Data Warehouse Department SBP 1. Total Debt does not include loans guaranteed by the Federal Government. 2. PSEs and private sector’s domestic & external debt and provincial governments debt not included in it. It consists of only the sources mentioned in the table. 120
8. 5 .8 Outstanding Domestic Debt of Public Sector Enterprises (PSEs) (End Period) (Billion Rupees) Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 P 1,587.3 1,711.5 1,682.8 1,670.6 1,669.7 1,647.7 (0.4) 5.5 4.0 4.4 5.2 (3.7) 3.8 4.1 4.0 3.5 3.5 3.5 1,397.7 1,490.5 1,478.6 1,461.2 1,467.7 1,436.7 YOY Growth (in %) 1.4 6.9 6.2 5.0 5.0 (3.6) As percent of GDP 3.4 3.6 3.6 3.1 3.1 3.0 Water and Power Development Authority (WAPDA) 86.8 67.4 67.1 64.9 64.1 63.6 Oil and Gas Development Company Ltd. (OGDCL) 6.1 5.7 5.7 5.9 5.9 6.3 137.7 141.8 143.4 143.7 148.8 153.3 43.2 43.2 43.2 43.2 43.2 43.2 1,123.9 1,232.5 1,219.2 1,203.5 1,205.8 1,170.4 II.PSEs Liabilities 1 189.6 221.0 204.2 209.4 202.0 210.9 Memorandum Item FY20R FY20R FY21P FY21P FY21P 41,556.3 41,556.3 47,709.3 47,709.3 47,709.3 PSEs debt and liabilities (I+II) YOY Growth (in %) As percent of GDP I.PSEs debt Pakistan International Airlines Corporation (PIA) Pakistan Steel Mills Corporation Ltd. Other PSEs GDP (mp) FY21P 47,709.3 Source: Statistics & Data Warehouse Department SBP 1 Reflects PSEs borrowings from banks for commodity operations. 121
9. 5 .9 National Saving Schemes-Outstanding Amount End Period (Million Rupees) SCHEME A. Accounts (i+ii / 1 to 6) FY20 FY21 2020 Jul 2021 Aug Apr May Jun Jul Aug 1,009,590.1 1,012,125.2 1,014,131.6 994,958.1 999,908.0 999,244.2 994,958.1 995,634.7 995,535.7 (i) national Saving Centers 811,966.1 829,187.3 806,721.9 808,274.9 821,880.0 826,445.4 829,187.3 834,685.4 841,209.2 (ii) Post Offices 202,165.5 165,770.8 202,868.3 203,850.4 178,028.0 172,798.8 165,770.8 160,949.2 154,326.5 42,717.1 44,331.9 42,373.5 42,473.5 40,688.5 42,893.5 44,331.9 45,977.9 46,154.0 310.4 310.6 310.4 310.4 310.6 310.6 310.6 310.6 310.6 1,521.8 1,508.1 1,506.7 1,492.1 1,457.8 1,454.3 1,508.1 1,502.4 1,444.2 4- Special Saving Accounts 617,345.4 580,199.3 612,184.5 613,468.0 591,907.4 587,500.0 580,199.3 577,517.2 575,735.0 5- Pensioners Benefit Account 352,167.8 368,514.9 353,146.0 354,312.3 365,459.0 366,992.5 368,514.9 370,235.0 371,792.8 69.2 93.3 69.1 69.1 84.8 93.3 93.3 91.6 99.1 B. Certificates (i+ii+iii /7 to 17) 2,509,380.2 2,502,940.8 2,513,295.0 2,515,336.4 2,500,313.7 2,504,610.8 2,502,940.8 2,502,436.9 2,493,756.3 (i) National Saving Centers 2,377,088.2 2,370,230.2 2,381,267.9 2,383,505.1 2,367,647.2 2,371,121.3 2,370,230.2 2,368,730.4 2,360,454.7 7,782.7 5,686.3 7,649.1 7,522.1 5,911.0 5,834.5 5,686.3 5,616.8 5,463.7 (iii) Banks 124,509.2 127,024.3 124,378.0 124,309.3 126,755.4 127,655.0 127,024.3 128,089.8 127,837.9 7- Defence Saving Certificates 486,199.9 477,165.0 485,240.7 484,762.3 477,396.3 478,255.4 477,165.0 476,173.4 475,522.2 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 17.0 216.5 216.1 216.1 216.1 216.1 216.1 216.1 216.1 216.0 1- Saving Accounts 2- Khas Deposit Accounts 3- Mahana Amdani Accounts 6- Shahada’s Family Welfare Account (ii) Post Offices 8- National Deposit Certificates 9- Khas Deposit Certificates 10- Premium Saving Certificates 11- Special Saving Certificates (Registered) 12- Special Saving Certificates (Bearer) 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 427,662.6 421,339.3 430,793.9 431,581.5 426,778.5 425,964.7 421,339.3 417,916.5 407,118.6 273.1 272.6 272.6 272.6 272.6 272.6 272.6 272.6 272.6 13- Regular Income Certificates 572,852.8 599,585.3 573,166.2 574,285.4 593,373.7 596,440.7 599,585.3 601,671.0 603,894.3 14- Behbood Saving Certificate 999,726.7 1,000,684.8 997,842.5 1,000,392.0 998,154.4 999,459.4 1,000,392.0 1,002,413.9 1,003,018.0 15- Short-Term Saving Certificates (3 Months) 5,178.6 3,003.3 4,717.7 4,473.2 3,115.8 2,986.4 3,003.3 2,854.2 2,805.0 16- Short-Term Saving Certificates (6 Months) 15,392.1 464.5 15,373.0 15,290.1 429.3 476.1 464.5 438.4 438.8 17- Short-Term Saving Certificates (12 Months) 3,744.6 485.4 3,770.7 3,753.0 559.6 522.0 485.4 463.5 453.2 715,113.9 399,582.2 714,569.0 717,113.1 624,718.6 523,210.3 399,582.2 368,188.0 350,063.0 19- Rs. 100 10,284.6 10,397.8 10,281.7 10,277.9 10,371.0 10,376.9 10,397.8 10,402.0 10,406.8 20- Rs. 200 29,327.3 29,447.4 29,297.2 29,275.7 29,390.3 29,395.2 29,447.4 29,492.4 29,524.4 21- Rs. 750 107,326.2 108,089.7 107,242.0 107,161.2 107,449.9 107,801.0 108,089.7 108,497.1 109,514.6 22- Rs.1,500 123,217.3 140,015.9 123,166.0 123,175.6 133,926.4 135,201.2 140,015.9 140,324.0 141,833.7 23- Rs. 7,500 106,500.5 56,486.5 106,460.1 107,313.5 126,075.4 103,543.8 56,486.5 40,900.7 29,776.0 24- Rs. 15,000 172,728.2 47,916.0 172,566.5 172,457.9 193,117.4 126,210.2 47,916.0 32,029.4 23,160.5 25- Rs. 25,000 164,118.8 5,068.5 164,068.8 164,239.1 21,959.2 8,434.0 5,068.5 4,418.0 3,764.1 26- Rs. 40,000 756.6 1,305.9 632.2 2,357.7 1,574.6 1,393.4 1,305.9 1,269.8 1,228.5 27- Others@ 854.5 854.5 854.5 854.5 854.5 854.5 854.5 854.5 854.5 18,987.6 44,134.8 19,058.4 18,978.8 33,264.7 38,391.9 44,134.8 49,243.0 51,339.6 18,987.6 29,000.4 19,058.4 18,978.8 24,415.3 26,405.2 29,000.4 31,237.2 32,349.6 8,849.4 11,986.8 15,134.4 18,005.8 18,990.0 4,158,205.0 4,065,457.2 3,941,615.9 3,915,502.6 3,890,694.6 C. National Savings Bonds 18- 10 Years D. Prize Bonds (19 to 27) * E. Premium Prize Bonds (Registered) (28 to29) 28- Rs. 40,000 29- Rs. 25,000 TOTAL (A+B+C+D+E) 15,134.4 4,257,613.3 3,941,615.9 4,256,512.6 4,263,553.6 Source: National Savings GOP * State Bank of Pakistan @. It includes Prize Bonds of Rs. 5, Rs. 10, Rs. 50, Rs. 100 (Old), Rs. 500, Rs. 1,000 Rs.5,000, Rs.10,000 and Rs.25,000 (Old) 122