Pakistan's government borrowed an additional Rs175.23 billion during the week ended June 19, 2026, pushing cumulative net borrowing for FY2025-26 to Rs1.92 trillion, according to the latest weekly estimates released by the State Bank of Pakistan (SBP).

The increase was primarily driven by borrowing for budgetary support, which accounted for Rs174.72 billion during the week. An additional Rs187 million was borrowed for commodity operations, while Rs327 million was raised under other financing requirements.

Since the beginning of the fiscal year, cumulative borrowing for budgetary support has reached approximately Rs1.97 trillion. Meanwhile, the government has recorded net repayments of Rs52 billion related to commodity operations and Rs3.58 billion under other categories.

The SBP data also highlights a continued shift in the government's financing strategy. During FY2025-26, the government repaid a net Rs3.35 trillion to the State Bank of Pakistan, reflecting efforts to reduce direct central bank financing.

The Federal Government accounted for Rs2.46 trillion of these repayments, while provincial governments, Azad Jammu and Kashmir (AJK), and Gilgit-Baltistan (GB) also reduced their outstanding obligations to the central bank.

At the same time, the government increasingly relied on scheduled commercial banks for financing. Net borrowing from commercial banks reached Rs5.32 trillion during the fiscal year, with the Federal Government accounting for Rs5.53 trillion of the total, partially offset by repayments made by provincial governments.

The latest borrowing figures reflect the government's continued dependence on domestic banking institutions to meet fiscal financing requirements while maintaining its policy of limiting direct borrowing from the central bank in line with broader macroeconomic reforms.