{"id":54014,"date":"2024-01-30T01:10:05","date_gmt":"2024-01-30T01:10:05","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/pakistan-witnesses-rise-of-2-3pc-in-financial-losses-during-1hfy-23\/"},"modified":"2024-01-30T01:10:05","modified_gmt":"2024-01-30T01:10:05","slug":"pakistan-witnesses-rise-of-2-3pc-in-financial-losses-during-1hfy-23","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/pakistan-witnesses-rise-of-2-3pc-in-financial-losses-during-1hfy-23\/","title":{"rendered":"Pakistan witnesses rise of 2.3pc in financial losses during 1HFY 23"},"content":{"rendered":"
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ISLAMABAD: The Ministry of Finance has issued the economic report for the first six months of the current fiscal year, revealing a 2.3 percent increase in financial losses, reaching a surplus of Rs. 1.812 trillion, ARY News reported on Monday.<\/strong><\/p>\n

In comparison, during the same period last year, the financial loss was recorded at 2 percent. The report highlights an improved fundamental balance, reaching a surplus of Rs. 1.812 trillion.<\/p>\n

The report revealed that the defense expenditures witnessed a significant surge, rising by 19 percent and reaching a total of Rs. 758 billion, meanwhile, the loan provision of Pakistan reached Rs 4.22 trillion with an increase of 64 percent.<\/p>\n

READ: Fiscal deficit for FY22-23 reaches 7.7 percent of GDP<\/a><\/strong><\/p>\n

Additionally, the petroleum revenues showed a substantial increase, rising by 166 percent to reach Rs. 473 billion.<\/p>\n

According to the report, the federal tax revenue experienced a 30 percent growth, totaling Rs. 4.469 trillion. Meanwhile, provincial tax revenue saw a 20 percent increase, reaching Rs. 365 billion.<\/p>\n

The budget deficit was reported at Rs. 1.799 trillion, fully covered by domestic loans, with Rs. 442 billion obtained through external loans.<\/p>\n<\/div>\n<\/div>\n