Ministry sounds alarm over higher markup payments

ISLAMABAD: The Ministry of Finance has warned about the growing pressure on expenditures due to higher markup payments presenting significant challenges for fiscal management.

The monthly economic report released by the ministry on Tuesday stated that the fiscal performance indicated some positive developments on the back of significant growth in revenues. However, growing pressure on expenditures due to higher markup payments presents significant challenges for fiscal management. For a stabilization path, it is imperative to ensure fiscal consolidation to lay the foundation for progressing towards higher and sustainable economic growth. Therefore, the government is stringently focusing on fiscal consolidation measures to ensure fiscal discipline. Consequently, the primary balance surplus continues to improve during the first eight months of FY2024.