ISLAMABAD: The Ministry of Finance endorsed the views of Punjab government on achievement of a provincial surplus of Rs40 billion during first quarter of the fiscal year 2024-25.
“The Ministry of Finance endorses the views of Government of the Punjab on achievement of a provincial surplus of Rs.40 billion during Q1 for FY 2024-25,” finance ministry said in a press release issued here.
The press release said, that government of the Punjab remained one of the most important contributors to provincial surplus during recent years adding for FY 2024-25 it has budgeted a provincial surplus of Rs630 billion as agreed with the International Monetary Fund (IMF).
The statement highlighted that the ministry 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 web-site, showing a provincial surplus of Rs40 billion for Punjab.
It is further pointed out that as per the revised figures agreed with the Fund; government of Pakistan has managed to achieve a cumulative provincial surplus of Rs360 billion against a target of Rs. 342 billion agreed with the IMF for Q1 for FY 2024-25
