The government has spent nearly Rs 179.23 billion till October 3. Yesterday only, the government spent Rs 15 billion.
The main reason for the ongoing liquidity crisis in the banking sector is taken as the sluggish spending habit of the government. However, it has speeded up the spending since the endorsement of the bill. Since then, it has been spending Rs 10 billion per day.
The spending which amounted to Rs 90 billion till September 22 totaled Rs 164 billion by October 3. Since the government has started spending the budget, it is likely that the liquidity will increase in the banking sector. One of the reasons for the downfall of the stock market is considered to be the lack of liquidity in the banking sector. The increase in government spending shall increase the stock market as well, view stock investors.
By October 3, the government has collected Rs 227.74 billion in revenue and spent Rs 179.23 billion in expenses. The government has spent 10.88 percent of its targeted expenditure. Out of the total expenses, the government spends merely Rs 4.80 billion in capital expenditure which is 1.1 percent of the total expenses.
According to the Office of Auditor General, the government has collected 18.75 percent of the total targeted revenue. The office informed that the government has Rs 48.52 billion in its treasury.
