During the first 9 months of the fiscal year 24-2023, Pakistan incurred a financial loss of Rs. 4337 billion, while expenditures exceeded Rs. 9651 billion. According to the details released by the Ministry of Finance, the initial 9 months saw a financial loss of up to Rs. 4337 billion. During this period, interest payments on loans amounted to Rs. 5517 billion.
According to the report, during the 9 months, the Federal Board of Revenue collected Rs. 6711 billion in taxes, transferring Rs. 3815 billion to the provinces under the NFC Award, and recording Rs. 2416 billion in non-tax revenue from July to March.
During this period, record revenue of Rs. 719 billion and 59 crores was collected from consumers in terms of petroleum levy, which is Rs. 357 billion higher than the previous year. The government’s expenditures from July to March exceeded Rs. 9201 billion, with Rs. 1222 billion spent on defense and Rs. 454 billion on development projects.
Similarly, subsidies exceeded Rs. 473 billion, pension payments exceeded Rs. 611 billion, and Rs. 518 billion was spent on running the government’s general affairs in the nine months.