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Updated 30 Jun, 2011 11:21am

Federal to release Rs140bn to provinces today

At the conclusion of the year on Thursday, the authorities will have an inflow of $522 million (about Rs45 billion) from three international lending agencies, the World Bank, Asian Development Bank and Islamic Development Bank, to partially finance Rs1.08 trillion overall deficit for the current year.

Likewise, a Rs60 billion non-tax revenue budgeted on account of sale of third generation telecom licences had also not materialised, which coupled with higher expenditure resulted in increased fiscal deficit of about 5.3 per cent.

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