SBP transfers record Rs1.93tr surplus profit to govt
Against budgetary projection of Rs1.435tr for FY27, SBP provided nearly Rs500bn more to national exchequer, officials confirm
ISLAMABAD: The State Bank of Pakistan (SBP) has transferred a surplus profit of Rs1.932 trillion to the federal government as non-tax revenue (NTR), significantly exceeding its budgetary target for the entire financial year 2026-27, according to senior Finance Division officials.
Against the budgetary projection of Rs1.435 trillion for FY27, the central bank has provided nearly Rs500 billion more to the national exchequer, officials confirmed while talking to The News here on Thursday. The SBP had transferred Rs2.619 trillion to the Finance Ministry as non-tax revenue during the last financial year 2025-26, against an initial budgetary estimate of Rs2.4 trillion.
Following the latest 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.
Overall, the federal government collected Rs2.36 trillion in non-tax revenue during the first two months of the current fiscal year against the full-year target of Rs5.33 trillion for FY27. The SBP remained the largest contributor, accounting for Rs1.932 trillion of the receipts.
The petroleum levy emerged as the second-largest contributor, generating Rs220.2 billion during the first two months of the current fiscal year.
Other major sources of non-tax revenue included Rs25.85 billion in royalties on oil and gas, Rs18.83 billion in markup on loans to state-owned enterprises (SOEs) and others, and Rs16.8 billion in markup from provincial governments.
The Pakistan Telecommunication Authority (PTA) contributed Rs16.07 billion, while the Natural Gas Development Surcharge generated Rs12.61 billion. Revenue from passport fees stood at Rs7.279 billion during the first two months against the annual target of Rs73 billion. The government also collected Rs3.47 billion under the defence-related head.
Other receipts included Rs3.71 billion from the discount related to crude oil prices, Rs5.1 billion through the windfall levy on crude oil, Rs634 million from the petroleum levy on liquefied petroleum gas (LPG), Rs881 million in receipts from the United Nations and Rs224 million through the Gas Infrastructure Development Cess. The government also collected Rs2.096 billion in dividends during the period.
Among other revenue heads, the Climate Support Levy generated Rs27.58 billion, while the New Energy Vehicle (NEV) Adoption Levy contributed Rs7.22 billion. The government received Rs34.8 billion in grants from provincial governments for the federal government, while other taxes generated Rs21 billion. Receipts under other taxes of the Islamabad Capital Territory (ICT) stood at Rs8.278 billion, while airport tax collections amounted to Rs10 million.
The Off-the-Grid (Captive Power Plant) levy, against an annual target of Rs15.7 billion, had yet to generate any revenue during the period.
The petroleum levy has an annual budgetary target of Rs1.676 trillion, while the government has projected Rs140.5 billion in royalties on oil and gas and Rs70.81 billion from the Natural Gas Development Surcharge for FY27.
