Rs1.478tr collected from fuel, climate levies in last fiscal year: govt

Revenue from petroleum and climate levies allowed the government to keep the federal budget deficit under control in the first 11 months of fiscal year 2025-26, official financial data showed.

The government raised more than Rs1.478 trillion through petroleum and environment levies to restrict the federal budget deficit to Rs3.34 trillion or 2.6% of gross domestic product (GDP) during the July-May period of FY2025-26.

As per the agreement with the International Monetary Fund (IMF), the provinces achieved a combined budget surplus of Rs1.31 trillion in the first 11 months of the fiscal year, which helped narrow the overall fiscal deficit to Rs2.03 trillion, or 1.6% of GDP.

The government had an aim for the entire fiscal to limit the overall fiscal deficit at 3% of GDP or Rs3.77 trillion, lowered from the original target of 3.9% of GDP or Rs5.03 trillion.

The Ministry of Finance has not yet released the reconciled fiscal operations statistics for the fiscal year ended June 30, 2026, and the final numbers are expected to be compiled in the next few weeks.

The government collected Rs4.82 trillion from three major non-tax revenue sources, including State Bank of Pakistan profits, petroleum levy and climate support levy, during the first 11 months against a full year target of Rs5.14 trillion, official data revealed.

The government got Rs2.428 trillion in State Bank profits, Rs1.432 trillion from petroleum levy and Rs45.97 billion under the climate assistance levy during the time.

Meanwhile, the Federal Board of Revenue (FBR) collected Rs11.228 trillion as tax, Rs6.163 trillion was spent on servicing the debt while authorities said that all the funds earmarked for the Public Sector Development Programme (PSDP) had been properly utilized.