IMF Condition Met: Government Cuts Expenditure in Line with Revenue

Islamabad: The federal government has successfully met a key condition set by the International Monetary Fund (IMF) by reducing expenditures in relation to revenues. In the first quarter of the current fiscal year, government revenues significantly increased compared to expenditures.
Details reveal that the overall budget surplus in the first quarter amounted to over PKR 1,696 billion, with federal revenues reaching PKR 4,019 billion and expenditures at PKR 2,483 billion, resulting in a budget surplus of PKR 1,536 billion.
During this period, provinces also reduced expenditures by PKR 160 billion. According to the Ministry of Finance, tax revenue for the first three months climbed to PKR 521 billion, while non-tax revenue surged to PKR 2,568 billion, including an additional PKR 40 billion collected from petroleum levies.
Furthermore, the State Bank’s profit soared to PKR 2,500 billion, a significant recovery from a financial deficit of PKR 1,031 billion recorded in the same period last fiscal year.