Pakistan’s total revenue increased to 4,900 billions in FY 2018-19

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Pakistan’s total revenue increased to 4,900 billions in FY 2018-19

ISLAMABAD: As many as Rs 4,900,724 million total revenue were collected by the government during the fiscal year 2018-19, including Rs 4,473,422 million tax revenues and Rs427,302 million non-tax revenues, according to official data.

The tax revenues included Rs4,071,619 million federal revenues and Rs401,803 revenues collected by the provinces, whereas the non-tax revenues included, Rs341,006 million collected by the federal government and Rs86,296 million collected by the provincial government.

On the other hand, the total expenditures during the period under review stood at Rs8,345,640 million including Rs7,104,031 current expenditure, Rs1,219,192 development expenditure and net lending and Rs22,417 million statistical discrepancy.

The data revealed that the current expenditure included Rs2,091,126 million mark-up payments and Rs1,146,793 million defence expenditure.

The budget deficit has been calculated at Rs3,444,916 million whereas the external and domestic financing stood at Rs3,444,916 including Rs764,986 non-bank finance and Rs2,263,224 bank finance.

The total revenues stood at 12.7 percent of GDP, out of which the share of tax revenue stood at 11.6 percent and non-tax revenues 1.1 percent.

The total expenditures during the period stood at 21.6 percent of GDP, of which the share of current expenditures stood at 18.4 percent and development expenditure and net lending at 3.2 percent.

Based on the figures, the budget deficit during the fiscal year 2018-19 was recorded at 8.9 percent of GDP, the data revealed.