PESHAWAR: The Khyber Pakhtunkhwa government has signed an agreement to present a surplus budget for the next fiscal year, in accordance with the conditions set by the International Monetary Fund (IMF).
According to official sources, after receiving approval from the provincial cabinet, the agreement was signed and forwarded to the federal government. As per the agreement, the provincial government will present a surplus budget of Rs 95 billion for the upcoming fiscal year.
While the province has signed the IMF agreement, it is still grappling with a loss of at least 200 billion rupees. It remains unclear how the province will maintain a surplus budget in the face of such losses.
In the previous budget, the Mahmood Khan-led government of the Pakistan Tehreek-e-Insaf (PTI) had signed an IMF agreement to present a surplus budget of Rs 117 billion.