This research seeks to empirically test a third dimension to the twin Deficit hypothesis and examines the co-movement of a third deficit known as the current and financial account balance. A conceptual framework based on income expenditure approach is developed for co-integration. The study uses annual data of Pakistan covering the period 1980 to 2014. The ARDL bound testing approach finds that the three deficit namely budget deficit, current account deficit and capital and financial account deficit are linearly correlated in the long-run. Further the study found that causality runs directly from current account to budget balance and financial balance, which is a strong evidence of triple deficit hypothesis.