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State Bank

Federal govt debt rises by more than Rs18.8 trillion in 28 months

by
Federal govt

ISLAMABAD: Federal government debt increased by more than Rs18.8 trillion during the first 28 months of the period from March 2024 through June 2026, according to State Bank of Pakistan data.

State Bank documents showed that the government’s domestic debt rose by Rs16.766 trillion during the period, while external debt increased by Rs2.066 trillion.

The overall increase translates into an average rise of more than Rs22.4 billion per day, according to the documents.

The federal government’s total debt stood at Rs64.810 trillion by February 2024, the final month of the caretaker government. After the increase over the following 28 months, the debt reached Rs83.642 trillion by June 2026.

According to the State Bank, the central government’s domestic debt increased from Rs42.675 trillion in February 2024 to Rs59.441 trillion by June 2026.

Meanwhile, the federal government’s external debt rose from Rs22.134 trillion to Rs24.201 trillion during the same period.

Pakistan’s freelancers earn over $950m foreign exchange in 10 months

by
Pakistan’s freelancers

KARACHI: Pakistani freelancers earned more than $950 million in foreign exchange during the first 10 months of the current fiscal year despite facing multiple local and global challenges, according to official data.

The State Bank of Pakistan said earnings from computer and information services through freelancing reached $959 million during July 2025 to April 2026, compared to $642 million in the same period last fiscal year.

This reflects a year-on-year increase of 49%, or $317 million, highlighting strong growth in the country’s digital services exports.

During the period, Pakistani freelancers reportedly outperformed counterparts in countries including India, China and the United Arab Emirates, according to industry sources.

Pakistan Freelancers Association President and CEO Dr. Imran Bataada said the rise in earnings was driven by increased participation of Pakistani freelancers on global platforms such as Upwork, Fiverr and social media-based work channels.

He said growing awareness of freelancing in Pakistan over recent years has enabled a large number of individuals to acquire skills through online learning, private institutions, government training programs and NGO initiatives.

Bataada, a five-time Global CIO Award winner, said he has trained more than 25,000 freelancers.

He added that Pakistan’s freelancing community now comprises around 3 million people and urged stronger collaboration between the government, banking sector and other stakeholders to further expand the sector in a structured manner.