Q1FY26: Country posts budget surplus of Rs2.1trn

ISLAMABAD: Pakistan posted a budget surplus of Rs 2.1 trillion, equal to 1.6 percent of GDP, during the first quarter (July-September) of the current fiscal year, said a document of the Finance Division.

A summary of consolidated federal and provincial fiscal operations for July-September 2025-26, released by the Finance Division, showed that total revenue stood at Rs 6.2 trillion (4.8 percent of the GDP) against the total expenditure of Rs 4.1 trillion (3.1 percent of the GDP) during the first quarter of the current fiscal year. Therefore, the country’s budget has posted a surplus of Rs1.2 trillion (1.6 percent of the GDP). The primary balance posted a surplus of Rs3.5 trillion (2.7 percent of GDP).

Total revenue of Rs 6.1 trillion included Federal Board of Revenue (FBR)’s tax collection of Rs 2.88 trillion and Rs 3.046 trillion as non-tax collection during the July-September period of the current fiscal year. Federal non-tax revenue included mark-up (PSEs and others) Rs13.3 billion, dividend Rs 26.6 billion, profit PTA and others Rs17.3 billion, surplus profit of State Bank of Pakistan Rs 2.4 trillion, defence receipts Rs 6.5 billion, passport fee Rs 14.1 billion, discount retained on crude oil Rs 4.7 billion, royalties on oil gas Rs 22.8 billion, windfall levy against crude oil Rs 9.2 billion, petroleum levy on LPG Rs 818 million, gas infrastructure development Cess Rs 603 million, natural gas development surcharge Rs 7.9 billion, petroleum levy Rs 371.6 billion, and others Rs 46.5 billion.

Q1FY26: SPL posts Rs288.48m PAT

The current expenditure of Rs. 4.047 trillion included the total interest payment of Rs1.38 trillion. The break-up included domestic mark-up at Rs. 1.18 trillion and foreign at Rs201.2 billion. In other expenditures, pension Rs 672.557 billion, running of civil government Rs 558.767 billion, defence Rs 447.5 billion, pensions Rs 249.4 billion, subsidies Rs 119.6 billion, and grants to others Rs 319 billion.

The four provincial governments collectively recorded a budget surplus of Rs781 billion during the first quarter of FY26, whereas their expenditures remained at Rs 1.44 trillion compared to the revenues of Rs 2.22 trillion. Punjab province had recorded a budget surplus of Rs 441 billion during the first quarter of the current fiscal year. The expenditures were registered at Rs 579.8 billion as compared to the revenues of Rs 1.021 trillion.

The Punjab government had received Rs882.3 billion from the federal government. Meanwhile, the province had generated only Rs 109.1 billion from its own sources, and non-tax collection recorded at Rs 35.4 billion. The province had shown a budget surplus of Rs 208.8 billion, as its expenditures were recorded at Rs 466.4 billion compared to the revenues of Rs 675.2. The Sindh government has received Rs 441.6 billion from the federal government during the period under review. The Sindh government collected Rs 135.5 billion as tax, Rs 7.9 billion as non-tax collection.

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