ISLAMABAD: Pakistan will exceed the revenue target set in the annual budget for the current financial year, finance minister Shaukat Tarin said on Wednesday.
Tarin said revenue would hit 6.1 trillion Pakistani rupees ($34.2 billion), compared to a target of 5.8 trillion rupees.
“Despite that I gave the target of 5.8 trillion, I’m going to hit at 6.1 trillion, and I’m tracking,” he told a news conference in Islamabad.
He said a recent fuel and electricity subsidy package announced by Prime Minister Imran Khan would be partially financed by the extra revenue, which may cause the fiscal deficit to slightly rise or fall.
“If due to that the deficit may go a bit 0.5 percent up or down, that may be,” he said.
Embattled Khan, facing a no-confidence move to oust him from office by opposition parties, announced a cut in petrol and electricity prices on Monday despite a steep rise in the global oil market, pledging to freeze the new rates until the next budget in June.
The subsidy will cost around $1.5 billion, a big number for Pakistan to defend during the International Monetary Fund (IMF) 7th review, which already has started, of a $6 billion rescue package agreed in 2019.
The south Asian country had to undertake fiscal tightening measures to pass its last IMF review, which was delayed by months as the government struggled to complete prior action required by the lender to release $1 billion in February.
The finance ministry has said that Pakistan was confident it will be able to defend its subsidy package during the IMF review, which Tarin also reiterated.
“We are doing it with our own revenues, which has improved. We have a space for that,” he said. “So, IMF shouldn’t have any objections on this.”
Pakistan to exceed revenue target in FY22 — finance minister
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Pakistan to exceed revenue target in FY22 — finance minister
- Tarin said revenue would hit Rs6.1 trillion ($34.2 billion) compared to target of Rs5.8 trillion
- PM has announced cut in petrol and electricity prices despite a steep rise in global oil market
India captain says will travel for Pakistan clash despite boycott
- Pakistan have announced they will boycott their match against India on Feb. 15 in Sri Lanka
- India need to be at the stadium on Feb. 15 to ensure they are awarded two points for match
MUMBAI: India captain Suryakumar Yadav said Thursday that his team would show up in Colombo for their T20 World Cup clash against Pakistan, despite their Group A opponents and arch-rivals boycotting the match.
“We haven’t said no to playing them (Pakistan),” Yadav told reporters at Mumbai’s Wankhede stadium, where India will begin their campaign against the United States on Saturday’s opening day.
“They are the ones who have said no. Our flights are booked and we are going to Colombo.”
India need to be at the stadium and ready to take the field for the February 15 match in order to make sure of being awarded the two points for a match forfeit.
The tournament, co-hosted by Sri Lanka and India, has been overshadowed by weeks of political posturing in the build-up.
Bangladesh were kicked out for refusing to play in India and Pakistan’s government then told its team not to show up at the clash of the arch-rivals as a show of support for Bangladesh.
Pakistan and India have not played bilateral cricket for more than a decade, and meet only in global or regional tournaments events.
India start the T20 World Cup on home soil with a great chance of retaining the title they won two years ago and Yadav agreed they were the side to beat.
“The way we have been playing, it looks like we are the favorites,” he smiled.
If that seemed like an overconfident statement, the India captain was quick to caution: “There are 19 (other) good teams in the tournament, though.
“On a given day, when you play, you have to bring your A-game and play good cricket.”
India know that their opening opponents, the United States, caused the biggest upset of the 2024 tournament when they beat Pakistan in a super over.
Yadav said no team would be taken lightly.
“I’m sure every game will be very important,” he said.
