ISLAMABAD: The provinces have failed to achieve the surplus budget target set by the federal government in the 2023-24 fiscal year on the demand of the International Monetary Fund (IMF).
According to details, the provinces managed to collect only Rs51 billion on account of the surplus budget from July-September 2023-24 against the set target of Rs187 billion by the federal government.
The surplus budget of the provinces during the fiscal year of 2023-24 is fixed at Rs750 billion on the IMF demand. The provinces gave a surplus budget of Rs218 from July to September, last fiscal year.
The official document further revealed that Punjab presented a deficit budget of Rs28.55 billion from July to September 2023-24, while the province’s budget was Rs125.22 billion surplus during the same corresponding period, last year.
Sindh gave a surplus budget of Rs19.10 from July to September 2023-24 against last year’s Rs60.29 billion during the same time.
Balochistan’s budget remained Rs71.17 billion surplus during the period of July-September in the current FY2023-24 while Khyber Pakhtunkhwa’s budget remained Rs10.31 billion in deficit during the same period.
Pakistan-IMF talks for the tranche of loan are expected to take place in November. –Agencies
