Debt worth Rs 3.58 trillion was disbursed in the first nine months of the current financial year, reports said

Islamabad: In the first 9 months of the current financial year 2022-23, the federal government paid off the debt worth 3.58 trillion rupees.

According to the report issued by the Ministry of Finance about the income and expenditure, according to the federal government, Pakistan’s income during the same period was 3.4 trillion rupees, while the total expenditure was more than 6 thousand 978 billion rupees.

According to the report, during the first nine months of this financial year, the budget deficit of the government has reached 3 thousand 534 billion rupees, while the defense expenditure has exceeded 1 thousand billion rupees, while 3 thousand 582 billion rupees were spent on the payment of loans and interest. Billions have been spent.

According to the report, from July 2022 to March 2023, 3 thousand 582 billion were spent on loans and interest payments, 1464 billion rupees more were spent on interest payments than last year.

The report stated that in the first 9 months of this financial year, defense expenditure exceeded 1000 billion rupees, 428 billion was spent on development projects, 524 billion was spent on subsidies and more than 486 billion was spent on pension payments by the Ministry of Finance. According to July to March, FBR collected 5 thousand 156 billion rupees in taxes.

According to the report, the non-tax revenue was 1,240 billion rupees, in 9 months, the budget of the provinces has been a surplus of 456 billion rupees. According to the Ministry of Finance, the government has collected 362 billion rupees through the petroleum products tax, 3.1 trillion rupees have been spent on internal debt repayment, and 0.47 trillion rupees have been spent on foreign debt.