Karachi April 29 2024: State Bank of Pakistan is anticipated to transfer an excess of PKR 2 trillion to the Federal Government in the upcoming year, says Governor of Central Bank in briefing to Analyst.
This transfer amount surpasses the current year’s PKR 972 billion, effectively doubling the contribution. Such a significant influx is poised to aid the government in mitigating its fiscal deficit, which is expected to rise due to increased borrowing costs.
The IMF projects Pakistan’s fiscal deficit to exceed PKR 9 trillion in the fiscal year 2025, primarily attributed to substantial debt servicing costs totaling PKR 9.5 trillion.
