Punjab Defies IMF Fiscal Curbs with Rs405 Billion Central Bank Borrowing
Punjab has quietly turned into Pakistan’s fiscal outlier, racking up Rs405 billion ($1.4 billion) in central bank borrowing within just 38 days of the new fiscal year—an amount dwarfing the combined borrowings of all other provinces and running counter to the austerity drive enforced by the International Monetary Fund. From July 1 to August 8,…