Peshawar – Advisor to Khyber Pakhtunkhwa Chief Minister for Finance, Muzzammil Aslam, has criticized the Punjab government’s performance for the first quarter of the current fiscal year (July to September).
Citing figures released by the Federal Ministry of Finance, Muzzammil Aslam stated that Punjab is the only entity that has posted a budget deficit of Rs160 billion, falling short of the International Monetary Fund (IMF) target of a Rs150 billion surplus. He claimed that, despite this poor performance, the media is trying to portray Maryam Nawaz’s performance as exceptional.
In a statement issued on Friday, Aslam highlighted that Punjab’s tax collection efforts were lacking, with overall tax and non-tax revenue collection at less than 7% during the quarter. In contrast, he noted that the Sindh government has posted a surplus budget of Rs131 billion against a target of Rs75 billion, achieving a tax collection rate of 35%.
Aslam praised the performance of the Khyber Pakhtunkhwa government, which achieved a surplus of Rs103 billion compared to its target of Rs45 billion. He mentioned that despite receiving a smaller share of federal receipts, Khyber Pakhtunkhwa reached 58% of its annual surplus target in just the first quarter.
He added that had the Federal Board of Revenue (FBR) met its targets and Khyber Pakhtunkhwa received its full share, the province’s surplus could have exceeded Rs120 billion. He stated that Khyber Pakhtunkhwa’s tax and non-tax collection rates during the three months were 35% and 50%, respectively.
Aslam further said that collectively, Balochistan, Gilgit-Baltistan, and Azad Kashmir achieved a surplus of Rs85 billion. Additionally, he noted that the federal government reported a budget surplus of Rs1,700 billion, surpassing its annual target for the first time in several years.
