Pakistan Meets Major IMF Conditions In First Six Months Of Current Fiscal Year

Abdullah Hussain (@Abdulla99267510) Published February 08, 2025 | 12:49 PM

Primary surplus reaches Rs3,600 billion, surpassing target of Rs2,900 billion.

ISLAMABAD: (UrduPoint/UrduPoint / Pakistan Point News-Feb 8th, 2025) Pakistan on Saturday successfully met major International Monetary Fund (IMF) conditions in the first six months of the current fiscal year, according to the Ministry of Finance, which has released details of the country’s revenues and expenditures for this period.

As per the report, the Primary surplus reached Rs3,600 billion, surpassing the target of Rs2,900 billion. The four provinces collectively recorded a budget surplus of Rs776 billion against the target of Rs750 billion while provincial tax collection stood at Rs 442 billion, exceeding the Rs376 billion revenue target.

The Finance Ministry’s data also revealed a shortfall of Rs384 billion in the Federal board of Revenue’s (FBR) tax collections.

The FBR collected Rs5,624 billion against the target of Rs6,009 billion.

However, tax enforcement on agricultural income is expected to further boost revenue.

The report further stated that the Trader-Friendly Scheme also fell short of its target, failing to collect the projected Rs23.4 billion in taxes. Meanwhile, the federal government’s net revenue stood at Rs5,887 billion, whereas its expenditures exceeded Rs8,200 billion.

During the first six months, the budget deficit amounted to Rs2,313 billion, with Rs5,141 billion spent on interest payments on loans while only 164 billion was allocated for federal development projects.