Punjab achieved Rs40bn surplus in Q1: MoF revises data

MG News | November 15, 2024 at 04:27 PM GMT+05:00

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November 15, 2024 (MLN): The Ministry of Finance has revised Punjab's budget figures, reporting a Rs40 billion surplus for Q1 FY 2024-25, overturning the earlier reporting of a Rs160bn deficit.

MoF in a statement said that it shared the updated Q1 fiscal operations figures with the IMF on November 14, 2024.

With concurrence of the Fund, MoF has updated the revised figures at its website, showing a provincial surplus of Rs40bn for Punjab.

As per the revised figures agreed with the Fund; the government of Pakistan has managed to achieve a cumulative provincial surplus of Rs360bn against a target of Rs342bn agreed with the IMF for Q1 for FY 2024-25.

The Ministry said government of the Punjab has remained one of the most important contributors to provincial surplus during recent years; for FY 2024-25 it has budgeted a provincial surplus of Rs630bn as agreed with the IMF.

To note, Sindh recorded an overall budget surplus of Rs131bn, followed by Khyber Pakhtunkhwa (KPK) at Rs104bn, and Baluchistan with a surplus of Rs85bn

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