Petroleum levy yields extra Rs110 billion from July–September

ISLAMABAD: Details of non-tax revenue collected in the first 3 months of the current fiscal year have been released.

According to a document from the Ministry of Finance, 371 billion was received in the form of petroleum levy from July to September, 261 billion was collected during the same period last fiscal year, 42.12 percent more petroleum levy was collected than the previous fiscal year.

According to the document, the budget surplus was 1.6 percent of GDP as per IMF conditions, the primary balance was recorded at 2.7 percent of GDP during the first quarter, 1,377 billion was spent on interest payments on loans, and 447 billion on defense.

During the first quarter, government revenue was 6,200 billion rupees and expenditure was 4,800 billion rupees.

A loan of 2,119 billion rupees was taken during this period, and the profit of the central bank was 2,428 billion rupees.

According to the document, from July to September, Rs10 billion was collected in carbon levy and Rs3 billion in EV adoption levy, while Rs249 billion was spent on pensions, Rs161 billion on civil government expenditure, and Rs119 billion on subsidies.