Guess who borrowed Rs.51b in 6 days from SBP

The government has borrowed Rs51 billion in six days from the State Bank of Pakistan. The central bank has issued new statistics of borrowings of the government, according to which the government has borrowed Rs51 billion only in 6 days in the current fiscal year. This means that the government is borrowing Rs8.5 billion per day from the State Bank. According to the statistics, the government borrowed Rs44.72 billion to over come budget deficit. The provincial governments had a loan of Rs3.54 billion while Rs6.39 billion were borrowed for the purchase of commodities. The year ending on June 30, the government was in debt of Rs1200 billion to the central bank.