Pakistan posts fiscal surplus for first time in 24 years

• Rs1.7tr surplus in July-Sept led by SBP profits, boost in petroleum levy revenue
• Non-tax revenue soars 550pc to Rs3.05tr; tax revenue up 25pc to Rs2.77tr
• Fiscal position puts need for mini-budget to rest
• Federal PSDP falters, plummets 45pc to Rs22.7bn

ISLAMABAD: Unprecedented profits by the State Bank of Pakistan (SBP), driven by the highest-ever interest rates and record petroleum levy revenue — both non-tax sources — have helped the country convert its entrenched budget...