Pakistan: Domestic External Debt Statistical Bulletin - April 2022

Transcription

1. 5 .1 Pakistan's Debt and Liabilities-Summary (End Period Stock) (Billion Rupees) Jun-20R Jun-21R Sep-21R Dec-20R Dec-21 I. Government Domestic Debt 23,282.5 26,265.4 26,443.8 24,314.1 26,746.9 II. Government External Debt 11,824.5 12,433.8 13,815.3 11,957.8 14,810.0 III. Debt from IMF 1,291.5 1,161.5 1,207.1 1,193.5 1,188.4 IV. External Liabilities1 1,663.3 1,378.4 1,987.3 1,477.9 2,055.0 V. Private Sector External Debt 2,628.2 2,541.0 2,809.4 2,482.2 3,016.9 VI. PSEs External Debt 869.5 1,061.0 1,141.3 934.9 1,206.0 1,490.5 1,436.7 1,448.3 1,461.2 1,503.8 VIII. Commodity Operations Debt2 813.4 904.0 913.5 734.2 889.4 IX. Intercompany External Debt from Direct Investor abroad 727.9 649.0 718.0 644.2 782.7 A. Total Debt and Liabilities (sum I to IX) 44,591.5 47,830.9 50,484.0 45,200.1 51,724.2 B. Gross Public Debt (sum I to III) 36,398.6 39,860.7 41,466.2 37,465.5 42,745.3 C. Total Debt of the Government - FRDLA Definition3 33,235.3 35,663.2 37,133.2 33,993.0 38,377.0 D. Total External Debt & Liabilities (sum II to VI+IX) 19,005.0 19,224.7 21,678.4 18,690.6 23,059.0 3,173.5 3,401.8 3,503.2 3,130.3 3,599.3 Total Debt and Liabilities 93.8 86.2 - - - Gross Public Debt 76.6 71.8 - - - Total Debt of the Government - FRDLA Definition 69.9 64.3 - - - Total External Debt & Liabilities 40.0 34.6 - - - 6.7 6.1 - - - 49.0 47.3 - - - FY20R FY21R 47,521.5 55,488.0 - - - 3,163.3 4,197.5 4,333.0 3,472.5 4,368.3 VII. PSEs Domestic Debt E. Commodity Operation and PSEs Debt (sum VI to VIII) As percent of GDP Commodity Operation and PSEs Debt Government Domestic Debt Memorandum Items GDP (current market price) 6 Government Deposits with the banking system4 SBP’s on-lending to GOP against SDRs allocation5 US Dollar, last day average exchange rates - - - - 474.9 168.1662 157.3105 170.6651 159.5918 176.5191 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. 3 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 5 Less the SBP’s on-lending to GOP against SDRs allocation (SDR 1.95 billion) equivalent to PKR 474.94 billion. 6 As per revised GDP(MP) at current prices (base 2015-16) released by PBS. 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 2 114
2. 5 .2 Pakistan's Debt and Liabilities Profile (Billion Rupees) Sep-20 Dec-20 R Mar-21 Jun-21R Sep-21R Dec-21P 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 44,848.6 45,200.1 45,470.0 47,830.9 50,484.0 51,724.2 8.0 94.0 42,597.8 8.7 89.3 10.3 42,988.0 11.1 - 6.2 95.3 43,444.8 7.2 91.1 7.3 86.2 45,548.4 8.2 82.1 12.6 47,583.2 11.7 - 15.5 49,254.8 14.6 - 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. 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 26,265.4 1,436.7 17,846.3 12,433.8 3,602.0 1,161.5 649.0 26,443.8 1,448.3 19,691.1 13,815.3 3,950.7 1,207.1 718.0 26,746.9 1,503.8 21,004.0 14,810.0 4,222.9 1,188.4 782.7 II. Total Liabilities (D+E) YoY Growth (in %)4 As percent of GDP D. External Liabilities 1 E. Domestic Liabilities 2 2,250.8 (4.6) 4.7 1,497.3 753.6 FY20R 47,521.5 2,212.0 (2.4) 1,477.9 734.2 2,025.2 (10.5) 4.2 1,324.3 700.9 2,282.4 (7.8) 4.1 1,378.4 904.0 2,900.9 28.9 1,987.3 913.5 2,944.4 33.1 2,055.0 889.4 FY22T End Period Stocks GDP (mp)6 FY21R FY21R FY21R FY21R 55,488.0 55,488.0 55,488.0 55,488.0 Servicing During the Period 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 SBP’s on-lending to GOP against SDRs allocation5 GDP (mp)6 FY-21 Jan-Mar Apr- Jun FY-22 Jul-SepR Oct-DecP FY20R FY21 R 4,451.7 40.9 9.4 4,562.6 2.5 8.2 1,105.9 29.1 2.3 1,003.7 (28.5) 2.1 856.0 (30.2) - 1,404.4 14.7 - 1,531.6 1,634.5 440.2 324.3 200.1 565.1 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 50.8 104.6 810.6 164.8 172.8 486.3 2,832.7 2,510.2 322.5 208.7 89.7 24.0 95.4 36.4 59.0 218.0 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 17.3 136.4 27.1 36.6 0.0 635.6 565.6 70.0 46.4 17.6 5.9 20.4 3.0 17.4 456.9 57.1 51.1 0.0 795.3 671.9 123.3 85.0 32.6 5.8 44.0 27.0 17.0 273.9 162.4 52.7 18.3 0.7 41.5 188.7 1.9 4,633.2 (61.9) 83.3 FY20R 126.7 3,445.2 (24.2) 35.7 - 50.4 985.8 16.5 2.3 - 6.0 1,470.0 53.0 12.4 - 1,331.7 12.0 0.7 - 41.5 1,794.6 57.8 474.9 FY21R FY21R FY21R FY21R FY22T 47,521.5 55,488.0 55,488.0 55,488.0 55,488.0 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. 5 Less the SBP’s on-lending to GOP against SDRs allocation (SDR 1.95 billion) equivalent to PKR 474.94 billion. 6 As per revised GDP(MP) at current prices (base 2015-16) released by PBS. 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) Debt Instruments I. Permanent Debt (1+2+3) 1. Market Loans Federal Government 3.00 % 1971 (Permanent) Loans matured but not encashed 2. Federal Government Bonds Public Sector FY20 FY21 Dec-20 Jan-21 Oct-21 Nov-21 Dec21 Jan22P 14,023.5 2.8 15,904.1 2.8 15,589.0 2.8 15,692.0 2.8 16,376.2 2.8 17,365.8 2.8 17,452.2 2.8 18,051.3 2.8 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 2.7 0.1 13,286.5 2.7 0.1 15,457.5 2.7 0.1 14,865.9 2.7 0.1 15,003.3 2.7 0.1 15,994.0 2.7 0.1 16,512.0 2.7 0.1 16,602.4 2.7 0.1 17,201.6 - - - - - - - - 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 198.2 665.3 429.7 636.3 1,037.1 1,229.7 1,297.8 1,483.3 Bai-Muajjal of Sukuk 201.0 201.0 201.0 201.0 201.0 201.0 128.5 128.5 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 .. .. .. .. .. .. .. .. 12,886.0 734.1 .. 14,590.0 443.7 .. 14,102.2 720.3 .. 14,164.7 685.8 .. .. .. .. 14,754.5 379.4 .. 15,080.0 376.0 .. 15,174.9 372.0 .. 15,588.5 371.9 5,578.3 6,680.4 5,043.3 5,135.7 6,416.5 5,793.2 5,643.5 5,703.9 .. .. .. .. .. .. .. .. 5,575.5 6,676.9 5,040.0 5,134.5 6,413.0 5,789.8 5,592.2 5,652.9 MTBs for Replenishment of Cash5 2.8 3.5 3.3 1.2 3.4 3.4 51.4 50.9 Outright Sale of MRTBs to Banks - - - - - - - - 3,673.6 3,523.5 3,645.9 3,497.9 3,669.7 3,527.4 3,668.1 3,525.8 3,628.7 3,483.4 3,619.9 3,478.7 3,604.0 3,465.3 3,608.9 3,472.7 Federal Investment Bonds Pakistan Investment Bonds (PIBs) 3. Prize Bonds3 II. Floating Debt Bai Muajjal4 Market Treasury Bills III. Unfunded Debt Saving Schemes (Net of Prize Bonds) Postal Life Insurance 48.5 47.2 48.5 48.3 47.2 47.2 47.2 47.2 101.5 100.8 93.8 94.0 98.1 94.0 91.5 89.0 7.2 6.7 6.8 6.8 7.3 7.5 7.6 7.5 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 6.5 6.6 7.0 7.2 7.3 7.2 … 23,282.5 592.5 23,875.0 28.2 26,265.4 693.1 24,643.6 5.2 24,314.1 524.7 24,838.8 8.7 24,511.3 507.0 25,018.3 39.0 26,467.6 673.3 40.8 26,827.2 634.2 39.6 26,746.9 607.6 40.2 27,411.7 575.1 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 27,140.9 27,461.5 27,354.5 27,986.8 *Source: Ministry of Finance (Budget Wing)
4. 5 .4 Pakistan's External Debt and Liabilities (Million US$ End Period) 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 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec21R 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 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 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 95,186.5 79,040.2 78,182.1 10,725.9 33,836.1 14,821.5 7,800.0 9,695.6 462.6 64.7 775.8 858.1 505.8 352.3 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 5,266.5 2,649.5 4.0 4.0 2,645.6 182.0 2,463.6 2,617.0 63.9 2,553.2 10,886.0 99,667.2 80,949.6 79,660.3 10,344.3 34,200.2 14,886.9 8,800.0 9,836.0 409.3 63.3 1,120.3 1,289.3 978.5 310.7 7,073.0 3,394.7 3,678.3 11,644.6 2,700.0 4,804.3 4,135.3 5.0 6,687.6 5,322.0 4,735.0 587.0 1,365.6 248.1 617.5 500.0 5,369.0 2,721.3 2.3 2.3 2,719.1 202.7 2,516.4 2,647.7 70.5 2,577.2 11,094.5 10,886.0 9,835.4 9,684.3 151.1 781.9 11,094.5 10,038.9 9,891.9 147.0 781.9 102,274.3 83,900.3 82,623.2 10,146.0 34,634.3 17,928.7 7,800.0 10,218.1 419.2 62.7 1,414.2 1,277.0 1,067.0 210.0 6,732.5 3,372.3 3,360.2 11,641.6 2,700.0 4,786.8 4,149.1 5.7 6,832.2 5,586.3 5,026.3 560.0 1,245.9 248.1 497.9 500.0 5,929.4 3,051.9 1.0 1.0 3,050.9 239.1 2,811.8 2,877.5 79.9 2,797.6 11,161.7 11,161.7 10,009.6 9,867.1 142.4 781.9 278.0 270.9 270.9 268.7 273.7 370.3 4,291.4 114,086.5 4,036.6 117,115.1 4,047.7 116,307.1 4,125.4 122,209.3 4,204.7 127,023.0 4,434.2 130,631.8 94,105.1 97,596.6 96,604.3 102,177.3 106,628.0 109,425.5 12,298.3 13,560.0 13,638.0 17,441.0 19,374.0 17,777.6 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$. Previously, it was captured from data being reported by banks in equivalent Pak rupees. 3Other debt liabilities of others sector in IIP statement. 4. Includes cash foreign currency and excludes CRR. Note: 1. SBP enhanced the coverage and quality of external debt statistics w.e.f March 31, 2010. For Revision study, see the link at :http://www.sbp.org.pk/ecodata/Revision-EDS.pdf 2. TBills-Treasury Bills, PIBs-Pakistan Investment Bonds, NHA-national Highway Authority, NC-national Construction, LCY= Local Currency, 3. External debt statistics is revised w.e.f Sep, 2014 by incorporating the transaction made through offshore accounts. Detail of changes are available at following link: http://www.sbp.org.pk/departments/stats/Notice/Rev-Study-External-Sector.pdf 4: As part of annual revision of IIP,data from 31-Dec-2019 to 31-Mar-2020 has been revised. Source: For A.1 except local currency securities (PIBs & Tbills), A.2.i and B.a, Economic Affairs Division, for rest State Bank of Pakistan. 117
5. 5 .5 Pakistan’s External Debt Servicing-Principal (Million US$ during Period) 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) Apr-Jun 21 Jul-Sep 21 R Oct-Dec 21 P 2,598 1,375 1,749 1,448 1,051 2,885 2,592 5 - 4 829 - 1,555 319 454 339 497 345 FY20 FY21 Oct-Dec 20 Jan-Mar 21 8,362 7,118 9,152 5,072 2,381 1,079 376 9 1,455 5 407 91 5 11 5 1,000 - - - - 16 - - - - - - - - - - - - - - 3,879 3,418 750 910 1,100 - 315 - 1,234 - 7 1,000 - - - - - 1 - - - - - - 744 1,079 303 222 301 223 - 293 - - - - - - 744 1,079 303 222 301 500 3,000 1,000 1,000 - 223 - 293 - 500 3,000 1,000 1,000 - - - - - - - - - - - - - - - - - 274 109 14 40 14 - - - - - 40 - - - - - - - - - 64 52 - 26 - 26 - 210 58 14 14 14 14 - - - - - - 0 - 163 69 10 31 28 - - 9 12 3 2 7 2 1 - - - - - - - 822 846 317 107 307 123 326 - - - - - - 9,630 10,187 2,726 2,778 2,106 1,216 3,212 1,719 1,006 204 332 119 4 266 1,181 12 783 - 155 - 318 - 39 - - 266 - 29,175 21,745 2,384 6,220 9,512 8,092 10,286 (386) (116) (236) 104 350 74 332 526 222 50 14 80 - - - - - 4 - 0 - - - - - - - - - - - - - - - - - - - - - - - - - - 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$ during Period) 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) Oct-Dec 20 Jan-Mar 21 Apr-Jun 21 Jul-Sep 21 R Oct-Dec 21 P FY20 FY21 2,352 1,872 1,678 1,303 443 347 432 301 376 339 336 282 675 487 1,808 1,261 338 285 335 279 475 119 1 1 .. .. .. 1 477 448 115 114 115 105 111 364 114 10 37 9 30 17 396 362 149 32 148 32 275 - - - - - - - - - - - - - - 450 336 64 102 62 112 71 - - - - - - - 1 - - - - - - 64 42 9 16 4 3 12 48 41 9 16 4 3 12 16 1 - - - - - - - - - - - - 160 150 40 38 34 36 33 - 97 26 25 23 25 23 160 52 14 13 11 11 10 320 225 57 94 3 18 155 181 156 32 65 3 18 16 139 120 69 81 25 12 29 6 10 - 139 11 - - - - - - - - - - - - - - 100 58 - 6 - 4 - 20 23 12 - 10 4 11 - - - - - - - 18 11 3 3 3 2 20 17 11 3 3 3 2 20 - - - - - - - 81 25 5 3 5 6 2 1 1 .. .. .. .. .. 80 24 5 3 4 6 2 - - - - - - - 658 443 154 70 132 92 154 631 432 154 70 131 91 154 27 11 1 - 1 - - 3,229 - - - - - - 2,237 617 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 119 514 525 443 862 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) Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 R Dec-21 P 1,682.8 1,670.6 1,669.7 1,647.7 1,668.4 1,785.6 YOY Growth (in %) 4.0 4.4 5.2 (3.7) (0.9) 6.9 As percent of GDP 3.5 - 3.5 3.0 3.1 - 1,478.6 1,461.2 1,467.7 1,436.7 1,448.3 1,503.8 YOY Growth (in %) 6.2 5.0 5.0 (3.6) (2.0) 2.9 As percent of GDP 3.1 2.6 3.1 2.6 2.7 - Water and Power Development Authority (WAPDA) 67.1 64.9 64.1 63.6 76.6 74.2 Oil and Gas Development Company Ltd. (OGDCL) 5.7 5.9 5.9 6.3 6.3 6.8 143.4 143.7 148.8 153.3 156.4 172.0 43.2 43.2 43.2 43.2 43.2 43.2 1,219.2 1,203.5 1,205.8 1,170.4 1,165.8 1,207.7 II.PSEs Liabilities 1 204.2 209.4 202.0 210.9 220.1 281.8 Memorandum Item FY21P FY21P FY21P FY21R FY22T FY22T 55,488.0 55,488.0 55,488.0 PSEs debt and liabilities (I+II) I.PSEs debt Pakistan International Airlines Corporation (PIA) Pakistan Steel Mills Corporation Ltd. Other PSEs GDP (mp) 55,488.0 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 2021 2022 Jan Feb Oct Nov Dec Jan Feb 1,014,131.6 994,958.1 1,019,168.3 1,014,380.1 992,503.5 990,792.6 976,741.6 976,411.2 979,264.3 (i) national Saving Centers 811,966.1 829,187.3 813,445.8 815,717.7 852,412.7 856,830.2 848,577.8 855,353.2 863,677.2 (ii) Post Offices 202,165.5 165,770.8 205,722.5 198,662.4 140,090.8 133,962.4 128,163.8 121,058.0 115,587.2 42,717.1 44,331.9 44,093.5 43,406.9 47,852.7 49,019.2 49,176.3 50,009.5 51,613.6 2- Khas Deposit Accounts 3- Mahana Amdani Accounts 4- Special Saving Accounts 310.4 1,521.8 617,345.4 310.6 1,508.1 580,199.3 310.6 1,467.4 613,722.1 310.6 1,461.5 607,571.7 310.6 1,470.4 568,828.0 310.5 1,462.4 565,088.5 310.6 1,451.0 549,663.0 310.6 1,251.1 545,077.9 310.6 1,472.1 543,685.0 5- Pensioners Benefit Account 352,167.8 368,514.9 359,496.9 361,551.6 373,936.9 375,676.6 376,034.8 379,656.4 382,079.0 69.2 93.3 77.8 77.8 105.0 105.0 105.8 105.7 104.0 B. Certificates (i+ii+iii /7 to 17) (i) National Saving Centers (ii) Post Offices (iii) Banks 2,509,380.2 2,377,088.2 7,782.7 124,509.2 2,502,940.8 2,370,230.2 5,686.3 127,024.3 2,506,604.2 2,374,511.2 6,891.8 125,201.2 2,511,910.5 2,379,300.6 6,621.0 125,988.9 2,490,881.6 2,356,828.0 5,194.8 128,858.7 2,487,905.6 2,354,078.9 5,065.7 128,760.8 2,488,509.2 2,355,705.7 4,940.8 127,862.8 2,496,251.9 2,364,074.9 4,807.0 127,370.0 2,501,452.9 2,369,761.6 4,693.8 126,997.6 7- Defence Saving Certificates 486,199.9 477,165.0 480,254.0 479,402.0 474,597.0 473,223.7 472,137.4 471,553.9 471,569.3 17.0 17.0 17.0 17.0 17.0 16.9 16.6 16.6 16.6 216.5 216.1 216.1 216.1 216.0 216.0 216.0 216.0 216.0 1- Saving Accounts 6- Shahada’s Family Welfare Account 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 0.5 427,662.6 421,339.3 437,929.1 440,560.5 403,764.0 403,122.6 402,942.0 402,521.4 401,075.5 273.1 272.6 272.6 272.6 272.6 272.6 272.6 272.6 272.6 13- Regular Income Certificates 572,852.8 599,585.3 581,955.2 585,501.1 606,103.5 606,630.8 608,614.5 612,904.8 616,571.2 14- Behbood Saving Certificate 997,842.5 1,000,392.0 998,869.5 999,244.5 1,002,346.7 1,001,068.9 1,000,890.5 1,005,539.7 1,008,274.1 15- Short-Term Saving Certificates (3 Months) 5,178.6 3,003.3 3,439.9 3,226.6 2,671.0 2,541.4 2,601.3 2,423.8 2,638.8 16- Short-Term Saving Certificates (6 Months) 15,392.1 464.5 390.9 409.2 447.4 398.8 403.6 388.3 396.3 17- Short-Term Saving Certificates (12 Months) 3,744.6 485.4 3,259.6 3,060.3 446.4 413.2 414.3 414.3 422.0 - - - - - - - - - C. National Savings Bonds 18- 10 Years D. Prize Bonds (19 to 27) * 715,113.9 399,582.2 658,722.2 636,940.9 324,865.7 320,750.7 317,091.1 315,997.4 316,480.9 19- Rs. 100 10,284.6 10,397.8 10,345.3 10,339.8 10,522.9 10,520.0 10,510.6 10,516.4 10,518.7 20- Rs. 200 29,327.3 29,447.4 29,387.3 29,370.7 29,560.7 29,570.3 29,558.8 29,536.6 29,550.1 21- Rs. 750 107,326.2 108,089.7 107,411.7 107,339.7 110,282.8 110,666.3 110,761.5 110,971.8 111,416.6 22- Rs.1,500 123,217.3 140,015.9 130,272.8 130,183.3 145,864.3 146,805.3 149,310.2 149,752.7 150,984.0 23- Rs. 7,500 106,500.5 56,486.5 125,801.3 125,670.6 15,034.2 11,547.2 7,064.0 6,077.4 5,470.3 24- Rs. 15,000 172,728.2 47,916.0 190,087.7 189,946.0 9,293.6 7,512.3 6,059.3 5,464.1 5,089.2 25- Rs. 25,000 164,118.8 5,068.5 62,781.2 41,535.9 2,455.3 2,294.6 2,022.6 1,887.5 1,669.9 26- Rs. 40,000 756.6 1,305.9 1,780.6 1,700.3 1,111.3 1,094.4 1,063.6 1,050.4 1,041.6 27- Others@ 854.5 854.5 854.5 854.5 740.4 740.5 740.5 740.4 740.4 18,987.6 44,134.8 27,073.7 29,102.0 54,484.4 55,236.4 54,920.5 55,911.5 56,902.5 18,987.6 29,000.4 22,311.2 22,961.1 33,659.8 34,004.2 33,621.8 34,166.1 34,710.3 15,134.4 4,762.5 6,141.0 20,824.5 21,232.3 21,298.6 21,745.4 22,192.2 47,230.3 47,230.3 47,230.3 47,230.3 47,230.3 3,909,965.4 3,901,915.8 3,884,492.7 3,891,802.3 3,901,330.9 E. Premium Prize Bonds (Registered) (28 to29) 28- Rs. 40,000 29- Rs. 25,000 E. Post Life Insurance TOTAL (A+B+C+D+E) 4,257,613.3 3,941,615.9 4,211,568.5 4,192,333.6 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