The State Bank of Pakistan (SBP) has reported unprecedented profits, turning a budget deficit into a fiscal surplus for the first time in 24 years. The SBP recorded a surplus profit of Rs2.5 trillion, driven by the highest-ever policy rate of 22% and a record petroleum levy revenue of Rs262 billion, an 18% increase from last year. This resulted in a fiscal surplus of Rs1.696 trillion, or 1.4% of GDP, compared to a 0.9% deficit during the same period last year. The primary surplus also reached over Rs3 trillion, or 2.4% of GDP, nearly double the annual target.