Per Capita Debt Rises 13% to Rs333,000, Pakistan’s per capita public debt rose 13 percent to about Rs333,000 last fiscal year, highlighting mounting fiscal pressures, according to the government’s Fiscal Policy Statement.
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Finance ministry data showed per capita debt increased from Rs294,098 in fiscal year 2023–24 to Rs333,041 in 2024–25, based on population estimates used for calculations.
Total public debt increased from Rs71.2 trillion in June 2024 to Rs80.5 trillion by June 2025, driven mainly by higher interest payments from additional borrowing.
The statement acknowledged public debt dynamics remained a key challenge, saying higher interest costs and exchange rate movements significantly contributed to rising debt levels nationwide.
Public debt as a share of gross domestic product increased from 67.6 percent in June 2024 to 70.7 percent by June 2025 nationwide overall levels.
Fiscal year 2024–25 marked the first full year of Prime Minister Shehbaz Sharif’s government, during which the federal fiscal deficit exceeded limits prescribed under law.
The report said the federal fiscal deficit reached 6.2 percent of GDP, compared with the legal ceiling of 3.5 percent under the Fiscal Responsibility Act.
In absolute terms, government spending exceeded the allowed deficit by around Rs3.1 trillion, equal to 2.7 percent of GDP during the reported fiscal year period.
For 2024–25, total federal expenditure was budgeted at Rs18.9 trillion, while actual current spending remained lower due to reduced interest payments during the fiscal year.
The ministry said provincial cash surpluses, central bank profits and petroleum levy receipts helped contain the consolidated fiscal deficit at 5.4 percent of GDP overall.
