November 05, 2024 20:21 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Pakistan govt's expenses shoot up to Rs1.1 trillion in 2 months
Pakistan Govt Expenses
Representational image by Abuzar Xheikh on Unsplash

Pakistan govt's expenses shoot up to Rs1.1 trillion in 2 months

| @indiablooms | 19 Sep 2022, 06:04 pm

Islamabad: The current expenditure of the Pakistan government has touched nearly Rs1.1 trillion.

Pakistan's expenditure touched the figure as the country continues to struggle with floods.

Alarmingly, during July-August period of the current fiscal year, over 71 percent of the current expenses were on account of just two heads – the interest payments on loans and the defence, according to the sources in the Ministry of Finance as quoted by The Express Tribune.

This left very little behind to spend on the welfare and the development of the country.

The fiscal figures are provisional and are subject to changes once the reconciled data is available at the end of the quarter (July-September).

However, Pakistan has assured the International Monetary Fund that if monthly fiscal operations data indicate that spending is running higher than the first quarter and subsequent target; this will trigger immediate remedial action to put in place the contingency revenue measures.

The government has conceded before the IMF that “the compression of current spending is ambitious”.

The initial trend indicates that even if the floods had not struck Pakistan, it was impossible to achieve the primary budget surplus target of Rs153 billion the government agreed with the IMF.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Xi Jinping, Putin in Russia 22 Mar 2023, 02:56 pm
Related Videos