Government borrowed Rs1280 billion: SBP

KARACHI: The State Bank of Pakistan (SBP) has revealed that from 30 July 2011 till 1 June 2012, the government borrowed Rs1280 billion from banks as compared to Rs645 billion during the previous year.

According to data, the federal government borrowed Rs591 billion from SBP and Rs548 billion from commercial banks. The remaining amount was borrowed from different banking sources.

The borrowing was not only limited to the federal government, during financial year 2012, the Sindh government borrowed Rs46 billion while the Punjab government borrowed over Rs14 billion.