According to the Federal Fiscal Activity Review 2019-20, Pakistan’s budget deficit for the first nine months (July-March) of the current fiscal year (FY20) stood at Rs1,686 billion (3.8 pc of GDP).
According to the survey, the country’s expenditures clocked in at Rs 6,376bn compared with Rs4,689bn’s revenues during the July-March FY19 era. Of the overall expenditure of 6.37tr (14.5pc of GDP), the Government spent Rs 1.879bn on servicing domestic and foreign debt while Rs 802bn was spent on the defense budget. For the current fiscal year, the Government had allocated Rs 1.152tr for defense.
According to the report, during the time under review the federal Government spent Rs 340.4bn on development projects while the provincial Governments spent Rs 382bn on the same. Of Rs 4,689bn’s overall revenues, the Government gathered about Rs 1,033bn as non-tax revenues. Among these non-tax revenues, the Government earned Rs70.03bn as a markup on public sector companies, Rs 26.05bn as dividends, Rs635.5bn as State Bank of Pakistan profit.
Rs 113.1bn as income of the Pakistan Telecommunication Authority (PTA), Rs 10.8bn as security facilities, Rs 16.3bn as passport fee, Rs10.5bn as crude oil discount, Rs 65.5bn as gas and oil royalty, Rs 4.6bn as crude oil windfall tax and Rs 60.1bn from other sources. In this year the FBR should be able to raise Rs 4,200bn against the revised Rs 3,908bn target.
Extracted from City42 News
