Pakistan's fiscal deficit stands at Rs.1.3 trillion

Pakistan's fiscal deficit during 2010-11 stood at a mind-boggling Rs.1.3 trillion, official data shows.

Updated: Sep 30, 2011, 13:03 PM IST

Islamabad: Pakistan's fiscal deficit during 2010-11 stood at a mind-boggling Rs.1.3 trillion, official data shows.

The finance ministry's consolidated fiscal data reveals that after inclusion of one-time off-budget electricity subsidy payments of Rs.142 billion to power companies, the overall deficit worked out to Rs.1.336 trillion or 6.6 percent of GDP, reported Dawn.

The year before that in 2009-10, the fiscal deficit was Rs.929 billion.

Revenue collection was also not satisfactory.

The total collection declined to 12.5 per cent of GDP against 14.2 percent in 2009-10. Also, tax revenue dropped to 9.4 percent of GDP from 10 percent achieved in the previous year, the media report said.

IANS