Govt utilized Rs399 bln out of Rs1,100 bln development budget in FY24-25

ISLAMABAD: The Pakistan government managed to spend only Rs399 billion from the allocated Rs1,100 billion development budget during the first nine months of FY2024-25, ARY News reported on Friday, citing an official document. 

According to data, the Pakistan government managed to spent only Rs399 bln out of the allocated Rs1,100 billion budget during (July to March 2024-25).

According to the data, federal ministries utilised Rs293 billion, while state-owned corporations spent Rs105 billion during the same period.

The National Highway Authority (NHA) emerged as one of the top spenders, with Rs 54.29 billion utilised.

The Power Division and the Ministry of Water Resources each spent Rs51 billion on development projects.

The Ministry of Railways utilised Rs20 billion, while the Ministry of National Health Services spent Rs7.65 billion.

Meanwhile, the Higher Education Commission (HEC) utilised Rs20.22 billion for development schemes.

Development spending in provinces and special areas amounted to Rs98 billion. Additionally, the Cabinet Division utilised Rs34.96 billion from its allocated development funds.

Read more: IMF ‘proposes’ Rs 15tr tax target for Pakistan in next budget

Earlier it was reported via sources that the International Monetary Fund (IMF) proposed a tax target of over Rs 15 trillion for Pakistan in the next budget.

According to sources, the IMF and Pakistan held virtual talks, with 85% of the discussions completed successfully in March.

The talks were focused on finalizing the details of the next budget, which is expected to be presented in the National Assembly soon.

The new budget is expected to increase the tax-to-GDP ratio to 13% and collect Rs 2,745 billion in non-tax revenue.