Islamabad: In compliance of IMF condition, out of Punjab, the PTI’s Chief Minister Ali Amin Gandapur led KPK Provincial Government, along with Sind and Baluchistan, has given surplus budget to the Federation despite the severe political difference with the Federal government.
Under the agreement between Federal Government and provincial governments, the provinces are liable to provide surplus budget Rs.1,217 billion during the current fiscal year 2024-25.
According to the Finance Ministry, the Federal Government has given Rs160 billion during the first quarter (July-Sept) during the current fiscal year.
The KPK Province has spent Rs.213 billion against the total revenue of RsRs317 billion during the first quarter of the current fiscal year. Consequently, Peshawar gave 103.75 billion budget surplus to federal government to bring down over all budget deficit.
The province showed that it honors to its commitment with Washington based international credit agency IMF despite its differences with the federal government. The data shows that the Gandapur was honoring to the commitments when he was criticizing in rallies of PTI in Punjab on Premier Shehbaz Sharif led Federal government.
Contrary to the KPK government, Punjab Government led by CM Maryam Nawaz Sharif give deficit budget to the federal government during the current fiscal year.
The Punjab has given budget deficit or Rs160 billion instead of surplus budget during the first quarter of the current fiscal year in compliance of the IMF.
According to the report, the total expenditure of the Punjab Province was recorded at Rs1093 billion against the total revenue of Rs867 billion during the first quarter of the current fiscal year. It has received Rs 760 billion from Federal government under the National Finance Commission (NFC) Award during the quarter.
The provincial government led by Chief Minister Maryam Nawaz has spent Rs124 billion on development schemes which is Rs12 billion higher from the same period of the last fiscal year.
Surprisingly, the provincial government has showed Rs377 billion as statistical discrepancy for the first quarter of the current fiscal year. The statistical discrepancy means that the government has no record where this money was spent and it doesn’t show in overall balance of budget. This is the highest amount of statistical discrepancy in the history of province.
The provincial government has also got Rs4.8 billion from Profit from hydro electricity from Federal government.
The Sindh government has surplus budget of Rs131 billion and Baluchistan government has provided Rs.85 billion budget surplus to the federal government.
