ISLAMABAD ( WEB NEWS )
The International Monetary Fund has approved a $1.2 billion tranche for Pakistan and released detailed estimates regarding the country’s economic targets, tax collection, and expenditures for the upcoming fiscal year.
According to the report, the total tax collection target for the next fiscal year is likely to be set at Rs15.264 trillion. Under this target:
- Direct taxes are estimated at Rs7.413 trillion
- Sales tax at Rs4.727 trillion
- Customs duties at Rs1.651 trillion
- Federal excise duty at Rs1.043 trillion
The IMF also released details regarding revenue from petroleum and gas. For the next fiscal year, revenue from the Petroleum Development Levy (PDL) is estimated at Rs1.727 trillion.
The report states that during the current fiscal year, the petroleum levy target was Rs1.468 trillion, but collections are expected to reach Rs1.546 trillion. Revenue from the gas surcharge is projected at Rs151 billion for the next fiscal year, while the target for the current fiscal year was Rs90 billion, with expected collections reaching Rs134 billion.
Regarding non-tax revenue, the report says that Pakistan is expected to collect Rs2.768 trillion in the next fiscal year. In the current fiscal year, non-tax revenue is likely to reach Rs3.702 trillion against a target of Rs3.681 trillion.
According to the report, Pakistan’s total expenditures for the next fiscal year are estimated at Rs26.423 trillion, while federal expenditures may reach Rs16.921 trillion.
The federal government is expected to spend the largest portion — Rs7.824 trillion — on interest payments and debt servicing. Out of this amount:
- Rs6.652 trillion is estimated for domestic debt servicing
- Rs1.107 trillion for foreign debt repayments
The report further states that Pakistan’s defense budget for the next fiscal year may reach Rs2.665 trillion. During the current fiscal year, defense expenditures are expected to remain at Rs2.564 trillion against the allocated target of Rs2.575 trillion.