According to official data, Pakistan's overall public debt as of June 2025 was USD 286.832 billion (PKR 80.6 trillion), nearly 13% more than the year before.
As of June 25, Pakistan's total public debt was PKR 80.6 trillion, of which PKR 54.5 trillion was domestic and PKR 26.0 trillion was external. Compared to FY-24, this growth is about 13%, the statistics stated. Last month, the Ministry of Finance released the Annual Debt Review for FY 2025, which included information on the public debt as of the conclusion of the fiscal year in June 2025.

"This was mostly due to lower-than expected growth in the nominal GDP in FY-2025, as significantly lower inflation reduced the pace of economic expansion, thereby pushing up the debt-to-GDP ratio despite fiscal consolidation efforts," said the report.
"The domestic debt increased by 15 per cent Year-on-Year, reaching PKR 54.5 trillion, the lowest annual increase in the past three fiscal years," it stated. The IMF's payouts, a USD 1 billion commercial loan backed by the ADB, and inflows from other multilateral institutions were the main causes of the external debt's 6% YoY increase to USD 91.8 billion as of June 2025.

The Federal Government of Pakistan possesses 84% of the country's external public debt as of June 2025, with provinces and subnational entities owning the remaining 16%. With USD 6.18 billion (7 percent), Punjab is the biggest borrower among the provinces. Sindh, with USD 4.67 billion (5 percent), saw the biggest increase of the year.
The document states that Khyber Pakhtunkhwa's debt increased to USD 2.77 billion (3 percent), while Baluchistan owed USD 371 million and Pakistan held Kashmir USD 281 million.