Islamabad: Pakistan’s total public debt has experienced a reduction, falling from 80,518 billion rupees to 79,146 billion rupees, reflecting a decrease of over 1,371 billion rupees.

According to Radio Pakistan, Finance Minister’s Advisor Khurram Schehzad announced the decline in a post on X, highlighting that this reduction was recorded between June and September this year. The advisor noted that this represents the first quarterly decrease in 69 months, since December 2019, marking a shift in the country’s debt dynamics.

Khurram Schehzad described the reduction as the largest quarterly decline ever, both in absolute value and percentage terms. He attributed this achievement to disciplined fiscal management and the strategic use of surplus funds for the early retirement of costly debt.

The advisor expressed confidence that this decline will contribute to lowering future borrowing needs, reducing refinancing and rollover risks, and strengthening medium-term financial stability. He stated that the reduction sends a positive signal regarding improving policy credibility and investor confidence.

Khurram Schehzad further elaborated that, over time, decreased debt servicing will create fiscal space for development, social protection, and growth-enhancing priorities. He emphasized that this development is a significant step toward a more sustainable and responsible fiscal path.