Punjab will face the brunt of International Monetary Fund’s conditions as the province will have to give Rs336 billion from its income to the federal government in the coming financial year.
The caretaker Punjab government has given approval to give Rs336 billion to the federal government on the recommendations of the latter.
Earlier, the Punjab Finance Department had prepared a strategy to give Rs125 billion from the revenue collection of the province.
However, the federal government requested the caretaker government in Punjab to increase the share to Rs336 billion as per the global lender’s conditions.
Complying with the request, the Punjab government will now pay Rs336 billion to federal government under the EPS formula instead of Rs125 billion in the next financial year.
