The end goal is to keep government expenses within sustainable limits, make the most of available resources, maximise social benefit, distribute public income more equitably, raise the levels of aggregate consumption, and promote efficiency and productivity of the economy.4 In view of this, the present Working Paper advocates for a fair share of focus on the expenditure side of fiscal deficit, whe. [...] Mark-up Payments: Mark-up payments refer to the additional amount, including interest payments that must be paid over the principal amount of domestic and foreign debt.6 Pensions: The federal pension budget includes two major constituents: pensions for the civil sector and pensions for the military sector.7 Defence Affairs and Services: ‘Defence administration’ and ‘defence services’ are two const. [...] Likewise, the key interest rate set by the State Bank of Pakistan (SBP) reached 16% by the end of December 2022 and 22% by the end of December 2023, compared to 9.75% in January 2022.23 At the time of this writing, the SBP had maintained the key interest rate at 17.5%.24 This high interest rate environment and government’s augmented borrowing to finance fiscal deficits explain the exceptionally hi. [...] In the FY 2024-25 budget, 65.3% of the pension expenditure has been allocated for the military sector and 21.7% for the civil sector (Figure 11). [...] Moreover, the HEC and railways division are among the top ten beneficiaries in all of the studied budgetary years (Figures 31, 32, 33, 34, 35), the Pakistan Atomic Energy 53 Government of Pakistan, Finance Division, “Federal Budget 2021-2022: Budget in Brief.” 23 Zahra Niazi Commission (PAEC) in four of the five studied years (Figures 32, 33, 34, 35), and the housing and works division in two of t.
Mentioned Organizations
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- 44
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- Pakistan
