Latest news with #Rs2.97
Time of India
18-05-2025
- Business
- Time of India
Rail infrastructure in Coimbatore district to get a boost soon
Coimbatore: The railway infrastructure in the district is all set to get a boost with the Southern Railway considering various long pending demands in its list of work shortlisted for 2025-26. To start with, the railway department has allocated Rs3.46 crore for the development of Singanallur station. While five trains have stoppages at Singanallur station, not many are aware of its existence, thanks to lack of proper entrance and exit points, terminal and approach roads. J Sathish, joint secretary, Resident Awareness Association of Coimbatore, said the railway should consider creating an entrance and exit on the eastern or western side, that is towards SIHS Colony or Neelikonampalayam Road. "Both these directions come with good approach roads, whereas the present entrance and exit located on the south side is a narrow lane. Additional facilities like drinking water, toilets and renovation of the terminal building are needed. " The railway department has allocated another Rs6.42 crore to increase the platform height at Irugur and Somanur stations, Rs2.97 crore to upgrade LHB coach maintenance facility at Coimbatore Junction, Rs41.13 crore to develop a coach maintenance facility at Podanu and yet another Rs18.46 crore for the modernization of goods sheds at Irugur and Coimbatore North stations. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like After Losing Weight Kevin James Looks Like A Model 33 Bridges Undo Irugur depot is known for generating significant freight revenue. It mainly handles petroleum products, cement, food grains and fertilizers. "Other divisions of the Southern Railway have ports, whereas the Salem division lacks one. Even then, Irugur generates freight revenues to the tune of Rs275-Rs300 crore yearly. Hence, improving the goods shed there is the need of the hour. Located at the centre of the city, Coimbatore North station could be completely utilised for passenger traffic. The railway should consider shifting the entire freight operations to Irugur," Sathish said.
Business Recorder
14-05-2025
- Business
- Business Recorder
2.4% of GDP: Jul-Mar budget deficit stands at Rs2.97trn
ISLAMABAD: Pakistan's budget deficit was recorded at Rs2.97 trillion (2.4 percent of the GDP) in the first nine months (July to March) of the current fiscal year 2024-25. A summary of consolidated federal and provincial fiscal operations for July-March 2024-25, released by the Finance Division showed that total revenue stood at Rs13.366 trillion (10.8 percent of the GDP) against the total expenditure of Rs16.337 trillion (13.2 percent of the GDP) during the first nine months of the current fiscal year, hence budget deficit has been recorded at Rs2.970 trillion (2.4 percent of the GDP). The primary balance posted a surplus of Rs3.468 trillion (2.8 percent of GDP). H1 budget deficit 1.2pc of GDP For the current fiscal year 2024-25, the government has projected a budget deficit at Rs7.3 trillion or 5.9 percent of the GDP. Total revenue of Rs13.366 trillion included Rs9.137 trillion tax and Rs4.229 non-tax revenue. Of the tax revenue Federal Board of Revenue (FBR)'s tax collection remained Rs8.453 trillion, during July to March period of the current fiscal year. The FBR collected Rs8,453 billion against a target of Rs9,168 billion, resulting in a shortfall of Rs715 billion in the first nine months of the current fiscal year. Non-tax revenues amounted to Rs4,027 billion, exceeding the target of Rs3,956 billion by Rs71 billion, due to higher collection of petroleum development levy (PDL) and other non-tax revenues. Provincial governments tax collection was recorded at Rs684 billion, surpassing the target of Rs606 billion by Rs78 billion (13 per cent surplus over the target). This strong performance was primarily driven by the governments of Sindh, Khyber Pakhtunkhwa (KPK), and Balochistan. Non-tax revenues reached Rs203 billion, surpassing the target of Rs160 billion by Rs43 billion — an impressive overperformance of 27 per cent increase. This achievement reflects the collective efforts of all provincial governments in enhancing non-tax revenue streams. Federal non-tax revenue included mark-up (PSEs and others) Rs117.465 billion, dividend Rs138.885 billion, profit PTA and others Rs28.954 billion, surplus profit of State Bank of Pakistan Rs2.5 trillion, defence receipts Rs23.797 billion, passport fee Rs52.835 billion, discount retained on crude oil Rs18.784 billion, royalties on oil, gas Rs139.634 billion, windfall levy against crude oil Rs4.277 billion, petroleum levy on LPG Rs2.438 billion, gas infrastructure development cess Rs801 million, natural gas development surcharge Rs35.645 billion, petroleum levy Rs833.847 billion, and others Rs129.298 billion. The current expenditure Rs16.337 trillion included total interest payment of Rs6.438 trillion. The breakup included domestic markup at Rs5.782 trillion and foreign at Rs656.220 billion. In other expenditures, pension Rs672.557 billion, running of civil government Rs558.767 billion, subsidies Rs466.229 billion, and grants to others Rs1.021 trillion. Federal government current expenditures remained within the targeted ceilings, with actual spending recorded at Rs4,313 billion against a target of Rs5,221 billion. The primary reason for this was lower releases of subsidies (49 per cent of the allocated target). Development expenditure, and net lending Rs1.543 trillion. Total development expenditure (PSDP) Rs1.535 trillion. Federal development expenditure remained under the spending target i.e. 317 billion against Rs658 billion (48 per cent). Provincial current expenditure totalled Rs4,006 billion, slightly below the ceiling of Rs4,050 billion. Punjab reported savings, while Sindh, KPK, and Balochistan recorded expenditures above their targets. Provincial development expenditure reached Rs1,226 billion, exceeding the target by Rs104 billion. Overspending was primarily observed in Punjab and Balochistan, while Sindh and KPK remained within their development expenditure targets. All four provincial governments recorded a budget surplus of Rs1.053 trillion during the first nine months of the current fiscal year. The expenditures of the four provincial governments remained at Rs5.340 trillion as compared to the revenues of Rs6.393 trillion. Statistical discrepancies stood at Rs205.691 billion during the first nine months of the current fiscal year. Transfer from federal government under NFC remained Rs5.084 trillion. Copyright Business Recorder, 2025
Business Recorder
08-05-2025
- Business
- Business Recorder
2.4p% of GDP: Jul-Mar budget deficit stands at Rs2.97trn
ISLAMABAD: Pakistan's budget deficit was recorded at Rs2.97 trillion (2.4 percent of the GDP) in the first nine months (July to March) of the current fiscal year 2024-25. A summary of consolidated federal and provincial fiscal operations for July-March 2024-25, released by the Finance Division showed that total revenue stood at Rs13.366 trillion (10.8 percent of the GDP) against the total expenditure of Rs16.337 trillion (13.2 percent of the GDP) during the first nine months of the current fiscal year, hence budget deficit has been recorded at Rs2.970 trillion (2.4 percent of the GDP). The primary balance posted a surplus of Rs3.468 trillion (2.8 percent of GDP). H1 budget deficit 1.2pc of GDP For the current fiscal year 2024-25, the government has projected a budget deficit at Rs7.3 trillion or 5.9 percent of the GDP. Total revenue of Rs13.366 trillion included Rs9.137 trillion tax and Rs4.229 non-tax revenue. Of the tax revenue Federal Board of Revenue (FBR)'s tax collection remained Rs8.453 trillion, during July to March period of the current fiscal year. The FBR collected Rs8,453 billion against a target of Rs9,168 billion, resulting in a shortfall of Rs715 billion in the first nine months of the current fiscal year. Non-tax revenues amounted to Rs4,027 billion, exceeding the target of Rs3,956 billion by Rs71 billion, due to higher collection of petroleum development levy (PDL) and other non-tax revenues. Provincial governments tax collection was recorded at Rs684 billion, surpassing the target of Rs606 billion by Rs78 billion (13 per cent surplus over the target). This strong performance was primarily driven by the governments of Sindh, Khyber Pakhtunkhwa (KPK), and Balochistan. Non-tax revenues reached Rs203 billion, surpassing the target of Rs160 billion by Rs43 billion — an impressive overperformance of 27 per cent increase. This achievement reflects the collective efforts of all provincial governments in enhancing non-tax revenue streams. Federal non-tax revenue included mark-up (PSEs and others) Rs117.465 billion, dividend Rs138.885 billion, profit PTA and others Rs28.954 billion, surplus profit of State Bank of Pakistan Rs2.5 trillion, defence receipts Rs23.797 billion, passport fee Rs52.835 billion, discount retained on crude oil Rs18.784 billion, royalties on oil, gas Rs139.634 billion, windfall levy against crude oil Rs4.277 billion, petroleum levy on LPG Rs2.438 billion, gas infrastructure development cess Rs801 million, natural gas development surcharge Rs35.645 billion, petroleum levy Rs833.847 billion, and others Rs129.298 billion. The current expenditure Rs16.337 trillion included total interest payment of Rs6.438 trillion. The breakup included domestic markup at Rs5.782 trillion and foreign at Rs656.220 billion. In other expenditures, pension Rs672.557 billion, running of civil government Rs558.767 billion, subsidies Rs466.229 billion, and grants to others Rs1.021 trillion. Federal government current expenditures remained within the targeted ceilings, with actual spending recorded at Rs4,313 billion against a target of Rs5,221 billion. The primary reason for this was lower releases of subsidies (49 per cent of the allocated target). Development expenditure, and net lending Rs1.543 trillion. Total development expenditure (PSDP) Rs1.535 trillion. Federal development expenditure remained under the spending target i.e. 317 billion against Rs658 billion (48 per cent). Provincial current expenditure totalled Rs4,006 billion, slightly below the ceiling of Rs4,050 billion. Punjab reported savings, while Sindh, KPK, and Balochistan recorded expenditures above their targets. Provincial development expenditure reached Rs1,226 billion, exceeding the target by Rs104 billion. Overspending was primarily observed in Punjab and Balochistan, while Sindh and KPK remained within their development expenditure targets. All four provincial governments recorded a budget surplus of Rs1.053 trillion during the first nine months of the current fiscal year. The expenditures of the four provincial governments remained at Rs5.340 trillion as compared to the revenues of Rs6.393 trillion. Statistical discrepancies stood at Rs205.691 billion during the first nine months of the current fiscal year. Transfer from federal government under NFC remained Rs5.084 trillion. Copyright Business Recorder, 2025
Business Recorder
08-05-2025
- Business
- Business Recorder
2.4pc of GDP: Jul-Mar budget deficit stands at Rs2.97trn
ISLAMABAD: Pakistan's budget deficit was recorded at Rs2.97 trillion (2.4 percent of the GDP) in the first nine months (July to March) of the current fiscal year 2024-25. A summary of consolidated federal and provincial fiscal operations for July-March 2024-25, released by the Finance Division showed that total revenue stood at Rs13.366 trillion (10.8 percent of the GDP) against the total expenditure of Rs16.337 trillion (13.2 percent of the GDP) during the first nine months of the current fiscal year, hence budget deficit has been recorded at Rs2.970 trillion (2.4 percent of the GDP). The primary balance posted a surplus of Rs3.468 trillion (2.8 percent of GDP). H1 budget deficit 1.2pc of GDP For the current fiscal year 2024-25, the government has projected a budget deficit at Rs7.3 trillion or 5.9 percent of the GDP. Total revenue of Rs13.366 trillion included Rs9.137 trillion tax and Rs4.229 non-tax revenue. Of the tax revenue Federal Board of Revenue (FBR)'s tax collection remained Rs8.453 trillion, during July to March period of the current fiscal year. The FBR collected Rs8,453 billion against a target of Rs9,168 billion, resulting in a shortfall of Rs715 billion in the first nine months of the current fiscal year. Non-tax revenues amounted to Rs4,027 billion, exceeding the target of Rs3,956 billion by Rs71 billion, due to higher collection of petroleum development levy (PDL) and other non-tax revenues. Provincial governments tax collection was recorded at Rs684 billion, surpassing the target of Rs606 billion by Rs78 billion (13 per cent surplus over the target). This strong performance was primarily driven by the governments of Sindh, Khyber Pakhtunkhwa (KPK), and Balochistan. Non-tax revenues reached Rs203 billion, surpassing the target of Rs160 billion by Rs43 billion — an impressive overperformance of 27 per cent increase. This achievement reflects the collective efforts of all provincial governments in enhancing non-tax revenue streams. Federal non-tax revenue included mark-up (PSEs and others) Rs117.465 billion, dividend Rs138.885 billion, profit PTA and others Rs28.954 billion, surplus profit of State Bank of Pakistan Rs2.5 trillion, defence receipts Rs23.797 billion, passport fee Rs52.835 billion, discount retained on crude oil Rs18.784 billion, royalties on oil, gas Rs139.634 billion, windfall levy against crude oil Rs4.277 billion, petroleum levy on LPG Rs2.438 billion, gas infrastructure development cess Rs801 million, natural gas development surcharge Rs35.645 billion, petroleum levy Rs833.847 billion, and others Rs129.298 billion. The current expenditure Rs16.337 trillion included total interest payment of Rs6.438 trillion. The breakup included domestic markup at Rs5.782 trillion and foreign at Rs656.220 billion. In other expenditures, pension Rs672.557 billion, running of civil government Rs558.767 billion, subsidies Rs466.229 billion, and grants to others Rs1.021 trillion. Federal government current expenditures remained within the targeted ceilings, with actual spending recorded at Rs4,313 billion against a target of Rs5,221 billion. The primary reason for this was lower releases of subsidies (49 per cent of the allocated target). Development expenditure, and net lending Rs1.543 trillion. Total development expenditure (PSDP) Rs1.535 trillion. Federal development expenditure remained under the spending target i.e. 317 billion against Rs658 billion (48 per cent). Provincial current expenditure totalled Rs4,006 billion, slightly below the ceiling of Rs4,050 billion. Punjab reported savings, while Sindh, KPK, and Balochistan recorded expenditures above their targets. Provincial development expenditure reached Rs1,226 billion, exceeding the target by Rs104 billion. Overspending was primarily observed in Punjab and Balochistan, while Sindh and KPK remained within their development expenditure targets. All four provincial governments recorded a budget surplus of Rs1.053 trillion during the first nine months of the current fiscal year. The expenditures of the four provincial governments remained at Rs5.340 trillion as compared to the revenues of Rs6.393 trillion. Statistical discrepancies stood at Rs205.691 billion during the first nine months of the current fiscal year. Transfer from federal government under NFC remained Rs5.084 trillion. Copyright Business Recorder, 2025
