The State Bank of Pakistan (SBP) has paid Rs. 1.932 trillion in profits to the federal government, nearly Rs. 500 billion above the revenue target set for the entire FY27 fiscal year. This transfer significantly exceeded the Finance Ministry’s budgeted estimate of Rs. 1.435 trillion.
The central bank had contributed Rs. 2.619 trillion to government revenues in FY26, surpassing its original target of Rs. 2.4 trillion. Under amendments to the SBP Act approved by Parliament, the surplus profit generated during the previous fiscal year was transferred to the Finance Ministry at the beginning of the new financial year.
The federal government collected Rs. 2.36 trillion in non-tax revenue during the first two months of FY27, against a full-year target of Rs. 5.33 trillion. The SBP contributed Rs. 1.932 trillion, making it the largest source of non-tax receipts.
The petroleum levy was the second-largest contributor, generating Rs. 220.2 billion during the July to August period. Other major contributors included Rs. 25.85 billion in oil and gas royalties, Rs. 18.83 billion in markup on loans to state-owned enterprises and other entities, and Rs. 16.8 billion in markup from provincial governments.
The Pakistan Telecommunication Authority contributed Rs. 16.07 billion, while the Natural Gas Development Surcharge generated Rs. 12.61 billion. Passport fees brought in Rs. 7.279 billion against an annual target of Rs. 73 billion. The government also collected Rs. 3.47 billion under the defense-related revenue category.
Additional receipts included Rs. 3.71 billion from discounts related to crude oil prices, Rs. 5.1 billion through the windfall levy on crude oil, Rs. 634 million from the petroleum levy on liquefied petroleum gas, Rs. 881 million from the United Nations, and Rs. 224 million through the Gas Infrastructure Development Cess. Dividend collections amounted to Rs. 2.096 billion.
The Climate Support Levy generated Rs. 27.58 billion, while the New Energy Vehicle Adoption Levy contributed Rs. 7.22 billion during the first two months of FY27. The government also received Rs. 34.8 billion in grants from provincial governments, while other taxes generated Rs. 21 billion.
Receipts from other taxes in the Islamabad Capital Territory stood at Rs. 8.278 billion, while airport tax collections amounted to Rs. 10 million. The Off the Grid Captive Power Plant Levy, which has an annual target of Rs. 15.7 billion, had generated no revenue during the period.
The government has set an annual petroleum levy target of Rs. 1.676 trillion for FY27. It has also projected Rs. 140.5 billion in oil and gas royalties and Rs. 70.81 billion from the Natural Gas Development Surcharge during the fiscal year.
