Islamabad: The government has informed the IMF about significant changes to the budget targets due to a decrease in non-tax revenue.
According to sources, important adjustments have been made to the new budget targets.
The government has revised the targets due to a reduction in non-tax revenue and has informed the IMF of these developments.There is a risk of an increase of 1,258 billion rupees in the budget deficit for the current fiscal year.
Data indicates that the deficit target has risen from 8,500 billion to 9,758 billion rupees. Similarly, with a provincial surplus of 1,217 billion rupees, the deficit could be reduced to 8,541 billion rupees.
The Ministry of Finance stated that the deficit will be covered through domestic and foreign loans.
Government revenue is estimated to decrease from 10,377 billion to 9,119 billion rupees.
The target for non-tax revenue has been reduced from 4,845 billion to 3,587 billion rupees.
The State Bank’s profit will be limited to 1,258 billion rupees instead of 2,500 billion.
The Ministry of Finance mentioned that 1,281 billion rupees will be collected under the petroleum development levy.
The estimate for the increase in government debt this fiscal year is 8,489 billion rupees, bringing the total public debt to 79,731 billion rupees. This year, the debt-to-GDP ratio is expected to remain at 64%.