Govt collects Rs896.4 billion non tax revenue in first half

The government had projected to collect Rs2 trillion under non tax collection in the ongoing fiscal year. However, it has collected 44 percent or Rs896.4 billion in first half of the year 2022-23. The country’s total revenues including tax as well as non gax collection stood at Rs4.698 trillion in July to December period.

In non-tax revenues, the government had collected Rs77.6 billion as mark-up on public sector entities, Rs40.8 billion as dividend, Rs32.58 billion as profit of Pakistan Telecommunication Authority (PTA), Rs9.26 billion as defence, Rs16.4 billion as passport fee and Rs10.8 billion as discount remained on crude oil, Rs56.7 billion as royalties on gas and oil, Rs14.84 billion as windfall levy against crude oil, and Rs68.296 billion through other sources. The government’s collection from the surplus profit of the State Bank of Pakistan (SBP) was recorded at Rs 371.186 billion against the target of Rs300 billion for the entire year, according to Finance Ministry’s fiscal operation. Petroleum levy (PL) collection was reported at Rs 177.805 billion during the first six months of the current fiscal year (July-December 2022-23). The data showed that petroleum levy collection on liquefied petroleum gas (LPG) stood at Rs3.232 billion, Gas Infrastructure Development Cess (GIDC) Rs 6.022 billion and natural gas development surcharge collection was Rs 10.838 billion.

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It is worth mentioning here that country’s expenditures were recorded at Rs6.38 trillion as compared to the revenues of Rs4.698 trillion making deficit of Rs1.68 trillion or 2 percent of the gross domestic product during July-December period of the ongoing financial year. Primary balance, which is the difference between government’s revenue and its non-interest expenditure, has recorded surplus of Rs889.6 billion during the period under review.