The International Monetary Fund (IMF) has sought an explanation for the reported Rs. 853 billion mismatch in the accounts of the federal and provincial governments.
IMF has asked the Finance Ministry for more details about the difference recorded in the fiscal year 2025-26 accounts.
Of the total Rs. 853 billion mismatch, Rs. 448 billion was in the federal government accounts, while Punjab reported a gap of Rs. 266 billion.
Government officials told the IMF that the difference was mainly linked to provincial investments in treasury papers, cash withdrawals made before the end of June and expenses that were recorded after the financial year ended.
Punjab officials said its Rs. 266 billion mismatch was also linked to differences between money coming into and leaving commercial accounts and differences in federal and provincial accounting methods.
The delayed release of development funds was another factor. Many cheques were issued before June 30, but the actual money was withdrawn after the end of the financial year.
The incomplete rollout of the treasury single account was contributing to the mismatch. Several government entities and authorities have not yet moved their funds into the single account.
The Finance Ministry has assured the IMF that it will provide additional information to explain the Rs. 853 billion difference.
The mismatch would not affect the government’s reported primary budget surplus of 2.9 percent of GDP, which remains a key condition under the IMF program.
Pakistan expects the current IMF review talks to conclude on October 7.
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