Posted 2/5/2024, 1:52:25 AM
Governments Sign Agreements to Cut Spending and Deliver Rs600bn Surplus to Regain Fiscal Space
- Federal and provincial governments signed agreements to deliver Rs600bn surplus to regain fiscal space lost in past
- Provinces delivered modest surplus in Q1 but significantly higher Rs290bn in Q2
- Punjab committed to cut spending by Rs115bn more to meet its surplus target
- Provinces agreed to settle long-standing commodity debt and avoid further such debt
- Provinces signed up for e-procurement system and committed to reducing electricity subsidies
