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Summary
Governor State Bank Shahid Kardar said that the government borrowing from the bank was increased up to Rs 1.50 billion daily. He said that inflation has crossed level of 15 percent. Giving a briefing in the meeting of Pakistan Development Forum, Kardar said that governments State Bank borrowing have reached Rs 185 billion during last three months. Secretary Finance Salman Siddiqi said that subsidies have completely removed from petroleum products and role of TCP has been ended in the import of sugar. Pakistans fiscal deficit stands at 4.7 percent of the GDP. He said that additional taxes will provide revenue of Rs 60 billion to the federal government and Rs 6 billion to each province.
