Islamabad: During the last fiscal year, the federal government’s net income was recorded at Rs 9,946 billion, while government expenditure reached Rs 17,036 billion. During this period, the fiscal deficit decreased to 5.4 percent of GDP, with the size of the fiscal deficit recorded at Rs 7,090 billion.

In this regard, the Ministry of Finance has released details of the federal government’s income and expenditure during the last fiscal year 2024-2025.

According to the report of the Ministry of Finance, Rs 6,854 billion was transferred to the provinces from distributable revenue, Rs 8,847 billion was spent on interest payments on loans, and the government has been successful in achieving most of the IMF targets.

The report states that the FBR failed to achieve the original annual target of Rs 12,970 billion. In the last fiscal year, Rs 11,744 billion in taxes were collected, which was Rs 1,226 billion less than the target. The target of Rs 50 billion collection from the Trader-Friendly Scheme could not be met.

According to the Ministry of Finance, Rs 2,193 billion was spent on defense, Rs 1,049 billion on federal development projects, 43 percent more funds were spent on development projects than last year, Rs 1,297 billion was spent on payment of subsidies, Rs 910 billion was spent on pension bills, and Rs 891 billion was spent on running civil affairs.