According to documents from the Ministry of Finance, the State Bank’s surplus profit was Rs. 371 billion in the financial year 2023. The bank’s profit share in non-tax revenue was the highest after the petroleum levy.
The total non-tax revenue for 2024 was Rs. 3,184 billion, with petroleum levy accounting for the largest Rs. 1,019 billion share.
The current account witnessed a surplus of $619 million in March 2024, the State Bank of Pakistan (SBP) reported.
Cumulatively the current account balance for July to March (2023-24) has improved significantly; a deficit of $0.5 billion was recorded during the period as compared to the deficit of $4.1 billion during the corresponding period of last year, according to the latest SBP data.
Current Account records surplus of $619m in March
“A current account surplus of $619 million has been recorded in Mar 2024. Cumulatively for Jul-Mar FY24, CAB improved significantly; recording a deficit of $0.5 billion only compared to $4.1 billion in Jul-Mar FY23,” said SBP.
According to SBP figures, the merchandise trade deficit during July-March (2023-24) was recorded at $-15,757 million as compared to the deficit of $21,079 million in July-March (2022-23).
Likewise, the services trade deficit was recorded at $-1,655 million during FY2023-24 compared to the deficit of $374 million during the corresponding period of last year.
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