The Pakistan Tehreek-e-Insaf (PTI) government has collected a revenue of Rs4.9 trillion in the fiscal year 2018-19, out of which Rs4.5 trillion were collected as tax by the federal and provincial governments, Associated Press of Pakistan (APP) reported.
According to the details, the total expenditure, however, exceeded the revenue by Rs3.44 trillion as it was recorded at Rs8.35 trillion. Out of this sum, the current expenditure accounts for Rs7.1 trillion, while development expenditure was recorded at Rs1.2 trillion.
The highest-in-almost-three-decades budget deficit — the financial loss for a period when expenses exceed revenues — worth Rs3.44 trillion was mainly financed by local banks who lent around Rs2.3 trillion to the government. Other local institutions lent around Rs765 billion.
External financing for the year has been recorded at Rs4.17 billion.
