In the initial nine months of the fiscal year 2023-24, Islamabad faced a financial deficit of 4,337 billion rupees, with expenditures surpassing 9,651 billion rupees.
As per the Ministry of Finance’s report, interest payments on loans amounted to 5,517 billion rupees during this period. The Federal Board of Revenue (FBR) collected 6,711 billion rupees in taxes, with 3,815 billion rupees transferred to provinces under the National Finance Commission (NFC). Non-tax revenue stood at 2,416 billion rupees from July to March. Petroleum levy collections hit a record high of 719 billion 59 crore rupees, marking a 357 billion rupee increase from the previous year.
Government operating expenses totaled 9,201 billion rupees during this period, with 1,222 billion rupees allocated to defense and 454 billion rupees to development projects. Subsidies amounted to 473 billion rupees, pension payments exceeded 611 billion rupees, and 518 billion rupees were allocated for civil administrative functions over the nine months.
