Public Finace
Public Finace
26
Public Finance
27
SBP Annual Report-Statistical Supplement 2022-23
Total Expenditure and net Lending (a+b+c) 7,244.8 9,350.1 11,332.4 12.98 14.03 13.39
(a)Current Expenditures 6,348.7 8,451.6 10,867.2 11.37 12.69 12.84
Interest payments ( Debt Servicing) 2,749.7 3,182.4 5,831.1 4.92 4.78 6.89
Domestic 2,523.8 2,828.6 5,071.2 4.52 4.25 5.99
Foreign 225.9 353.9 759.9 0.40 0.53 0.90
Pension 440.1 541.9 666.3 0.79 0.81 0.79
Running of Civil Govt. 505.8 546.7 634.0 0.91 0.82 0.75
Grants 911.6 1,239.3 1,070.0 1.63 1.86 1.26
Provinces 83.8 97.5 82.0 0.15 0.15 0.10
Other 827.7 1,141.8 988.0 1.48 1.71 1.17
Subsidies 425.0 1,529.6 1,080.3 0.76 2.30 1.28
Defense Affairs and Service 1,316.4 1,411.6 1,585.5 2.36 2.12 1.87
(b)Development Expenditure and net Lending 789.1 701.1 890.4 1.41 1.05 1.05
Total Development Expenditure 694.6 558.1 743.0 1.24 0.84 0.88
Public Sector Development Program 667.3 558.1 743.0 1.20 0.84 0.88
Of which: Development Grant to Provinces 226.1 157.7 91.0 0.40 0.24 0.11
Net lending 94.5 143.0 147.3 0.17 0.21 0.17
Provinces 17.5 102.6 87.5 0.03 0.15 0.10
Other 76.9 40.4 59.9 0.14 0.06 0.07
(c) Statistical Discrepancy 107.0 197.4 (425.2) 0.19 0.30 (0.50)
Overall Balance (3,716.9) (5,610.9) (6,676.0) (6.66) (8.42) (7.89)
Financing 3,716.9 5,610.9 6,676.0 6.66 8.42 7.89
External 1,338.1 1,178.4 (679.8) 2.40 1.77 (0.80)
Domestic. 2,378.9 4,432.5 7,355.9 4.26 6.65 8.69
Bank 2,169.6 3,434.9 3,693.2 3.89 5.16 4.36
Non-Bank 209.2 997.6 3,662.7 0.37 1.50 4.33
Privatization Proceeds - - - - - -
28
Public Finance
(Billion Rupees)
Amount % GDP1
FY19 FY20 FY21 FY22 FY23 P FY19 FY20 FY21 FY22 FY23 P
Total Revenue 2,995.9 3,241.0 3,728.0 4,687.5 5,299.4 6.8 6.8 6.7 7.0 6.3
Provincial share in Federal Revenue 2,397.8 2,504.0 2,741.9 3,589.0 4,223.5 5.5 5.3 4.9 5.4 5.0
Provincial Taxes 401.8 413.6 508.4 612.4 649.6 0.9 0.9 0.9 0.9 0.8
Sales Tax on Services GST 202.9 233.0 293.6 355.7 417.0 0.5 0.5 0.5 0.5 0.5
Stamp Duties 70.4 59.1 55.2 70.9 65.2 0.2 0.1 0.1 0.1 0.1
Motor Vehicles Tax 24.9 18.0 26.8 36.2 31.7 0.1 .. .. 0.1 ..
Other 87.4 86.2 124.5 140.6 126.1 0.2 0.2 0.2 0.2 0.1
Provincial Non-tax 86.3 102.4 150.3 128.3 165.9 0.2 0.2 0.3 0.2 0.2
Profits from Hydro Electricity 21.1 25.7 52.2 23.3 5.5 .. 0.1 0.1 .. ..
Others 62.1 72.4 90.6 99.1 154.1 0.1 0.2 0.2 0.1 0.2
Federal Loans and transfers/Grants 110.0 221.0 327.5 357.8 260.5 0.3 0.5 0.6 0.5 0.3
Loans(net) 22.6 (9.9) 17.5 102.6 87.5 0.1 (..) .. 0.2 0.1
Grants 27.7 76.4 83.8 97.5 82.0 0.1 0.2 0.2 0.1 0.1
Federal Grants for Development Expenditure 59.7 154.5 226.1 157.7 91.0 0.1 0.3 0.4 0.2 0.1
Total Expenditure 2,857.0 3,163.9 3,414.4 4,336.5 5,144.8 6.5 6.7 6.1 6.5 6.1
Current Expenditure 2,350.8 2,541.9 2,844.2 3,200.8 3,859.6 5.4 5.3 5.1 4.8 4.6
of which: interest to Fed. Govt. 22.9 26.1 25.0 33.5 61.8 0.1 0.1 .. 0.1 0.1
other (including Irrigation Exp.) 2,327.9 2,515.8 2,819.2 3,167.3 3,797.8 5.3 5.3 5.0 4.8 4.5
Development Expenditure 506.2 622.0 770.2 1,216.6 1,241.0 1.2 1.3 1.4 1.8 1.5
Overall Balance 138.9 77.1 313.6 351.0 154.6 0.3 0.2 0.6 0.5 0.2
Financing (190.0) (224.9) (313.6) (351.0) (154.6) (0.4) (0.5) (0.6) (0.5) (0.2)
External - - - - - - - - - -
Domestic (190.0) (224.9) (313.6) (351) (154.6) (0.4) (0.5) (0.6) (0.5) (0.2)
Bank (192.4) (242.2) (300.6) (334) (164.6) (0.4) (0.5) (0.5) (0.5) (0.2)
29
SBP Annual Report-Statistical Supplement 2022-23
FY19 FY20 FY21 FY22 FY23 P FY19 FY20 FY21 FY22 FY23 P
Total Revenue 1,421.2 1,459.3 1,662.0 2,173.9 2,425.4 820.6 842.5 975.7 1246.4 1,501.2
Provincial Share in Federal Revenue 1,167.4 1,197.4 1,344.2 1,785.7 2,076.6 599.7 614.0 688.4 902.3 1,046.5
Provincial Taxes 192.6 189.8 224.5 273.6 297.4 177.9 182.6 230.0 268.1 285.1
Sales Tax on Services GST 90.2 105.5 138.4 165.1 196.9 93.5 99.8 123.1 145.8 173.9
Excise Duties 3.6 2.4 2.3 2.3 2.6 5.1 4.6 5.1 5.7 6.1
Stamp Duties 58.6 48.3 38.4 49.7 46.5 9.9 8.7 12.8 15.8 15.0
Motor Vehicles Tax 14.9 9.9 14.4 21.3 18.7 7.3 6.2 9.8 12.5 10.5
Other 22.5 17.4 31.1 35.1 32.7 59.2 60.9 79.1 88.2 79.5
Provincial Non-Tax 39.7 55.3 58.5 63.0 81.8 9.4 9.9 14.2 14.7 33.2
Irrigation (Irrigation Receipts only) 1.7 3.2 4.0 3.8 4.5 0.3 0.3 0.2 0.3 0.1
Others 37.4 44.7 49.2 56.4 76.0 9.2 9.6 13.9 14.4 33.2
Federal Loans and Transfers 21.4 16.9 34.7 51.6 (30.4) 33.5 36.0 43.1 61.4 136.3
Loans(net) 1.4 (21.9) (14.7) (6.0) (47.9) 6.6 7.9 5.4 30.2 102.1
Total expenditure 1,372.4 1,467.7 1,474.9 1,822.4 2,335.3 765.0 779.1 933.0 1197.6 1,450.8
Current expenditure 1,129.8 1,202.3 1,245.4 1,380.8 1,667.2 656.7 676.0 817.6 947.2 1,175.7
of which: interest to federal govt. 14.4 15.9 14.3 15.8 35.3 6.7 7.5 7.8 14.5 18.0
other (incl. Irrigation Exp.) 1,115.5 1,186.5 1,231.1 1,365.0 1,631.9 650.0 668.5 809.7 932.7 1,157.6
Development Expenditure 242.5 265.3 358.1 613.3 625.0 108.3 103.0 123.2 224.8 313.5
Overall Balance 48.8 (8.3) 187.1 351.5 90.1 55.6 63.4 42.6 48.8 50.4
Financing (122.3) (12.9) (187.1) (351.5) (90.1) (42.1) (70.9) (42.6) (48.8) (50.4)
External - - - - - - - - - -
Domestic (122.3) (12.9) (187.1) (351.54) (90.1) (42.1) (70.9) (42.6) (48.8) (50.4)
Bank (130.1) (24.1) (180.7) (346.4) (103.6) (31.7) (68.5) (34.2) (38.5) (41.3)
Non-Bank 7.8 11.2 (6.3) (5.2) 13.5 (10.3) (2.3) (8.4) (10.2) (9.1)
Budget Deficit as % of GDP1 0.1 (0.0) 0.3 0.5 0.1 0.1 0.2 0.1 0.1 0.1
1: GDP (MP)
Source: MOF Govt. Pakistan (Fiscal Operation)
30
Public Finance
FY19 FY20 FY21 FY22 FY23 P FY19 FY20 FY21 FY22 FY23 P
Total Revenue 489.2 595.0 756.2 892.4 909.5 264.9 344.2 334.2 374.7 463.4
Provincial Share in Federal Revenue 393.0 401.2 446.1 596.0 698.7 237.6 291.4 263.2 305.1 401.6
Provincial Taxes 19.8 25.1 33.2 41.8 41.4 11.5 16.2 20.7 28.9 25.7
Sales Tax on Services GST 10.4 17.0 19.3 27.5 27.1 8.8 10.6 12.9 17.4 19.1
Stamp Duties 1.5 1.7 3.6 4.9 3.1 0.4 0.5 0.5 0.5 0.6
Motor Vehicles Tax 1.8 1.3 1.7 1.5 1.7 0.7 0.6 0.9 0.9 0.8
Other 4.8 4.8 8.6 7.8 9.5 0.8 3.1 5.7 9.5 4.4
Provincial Non-Tax 31.0 31.0 69.2 40.0 37.1 6.1 6.2 8.3 10.6 13.7
Irrigation (Irrigation Receipts only) 0.4 0.2 0.2 0.3 0.4 0.1 0.1 0.1 0.4 0.2
Others 9.5 12.0 19.2 18.2 31.4 6.0 6.1 8.2 10.1 13.5
Federal Loans and Transfers 45.4 137.7 207.6 214.6 132.2 9.7 30.4 42.0 30.2 22.3
Loans(net) 18.4 5.2 25.6 74.2 25.3 (3.8) (1.2) 1.3 4.3 8.1
Grants 0.2 50.5 56.0 65.1 60.0 9.8 10.0 10.0 9.2 -
Federal Grants for Development Expenditure 26.9 82.0 126.1 75.3 47.0 3.7 21.6 30.7 16.7 14.3
Total expenditure 472.1 597.2 687.4 941.6 892.8 247.6 320.0 319.1 374.9 465.9
Current expenditure 358.3 437.1 549.4 611.4 695.1 206.0 226.5 231.8 261.4 321.6
of which: interest to federal govt. 1.2 2.2 2.3 2.6 7.6 0.6 0.6 0.6 0.6 0.9
other (incl. Irrigation Exp.) 357.1 434.9 547.1 608.8 687.5 205.4 225.9 231.2 260.8 320.7
Development Expenditure 113.8 160.2 190.3 260.1 146.3 41.6 93.5 98.7 118.4 156.2
Overall Balance 17.1 (2.2) 68.8 (49.2) 16.6 17.3 24.2 15.1 (0.2) (2.5)
Financing (6.6) (66.4) (68.8) 49.2 (16.6) (19.1) (74.8) (15.1) 0.2 2.5
External - - - - - - - - - -
Domestic (6.6) (66.4) (68.8) 49.2 (16.6) (19.1) (74.8) (15.1) 0.2 2.5
Bank (8.0) (70.4) (68.3) 49.2 (17.8) (22.6) (79.2) (17.3) 1.8 (2.0)
Non-Bank 1.4 4.1 (0.5) .. 1.1 3.5 4.4 2.1 (1.6) 4.5
31
SBP Annual Report-Statistical Supplement 2022-23
(Billion Rupees)
Direct Indirect Taxes Total Tax Growth %
Period Indirect
Taxes Sales Excise Customs Total Collection Direct Taxes Total
Taxes
FY16 1,217.5 1,302.4 188.1 404.6 1,895.0 3,112.5 17.8 21.8 20.2
FY17 1,344.2 1,329.0 197.9 496.8 2,023.6 3,367.9 10.4 6.8 8.2
FY18 1,536.6 1,485.3 213.5 608.4 2,307.2 3,843.8 14.3 14.0 14.1
FY19 1,445.5 1,459.2 238.2 685.6 2,383.0 3,828.5 (5.9) 3.3 (0.4)
FY20 1,523.4 1,596.9 250.5 626.4 2,474.0 3,997.4 5.4 3.8 4.4
FY21 1,731.9 1,990.2 277.1 765.2 3,032.5 4,764.4 13.7 22.6 19.2
FY22 2,280.5 2,532.0 321.0 1,009.5 3,862.3 6,142.8 31.7 27.4 28.9
FY23 3,272.4 2,592.1 369.8 934.8 3,896.7 7,169.1 43.5 0.9 16.7
FY21 1,731.9 1,990.2 277.1 765.2 3,032.5 4,764.4 13.7 22.6 19.2
Jul-Sep 363.6 435.7 56.0 155.3 647.0 1,010.6 2.2 7.9 13.8
Oct-Dec 467.2 482.4 67.2 182.6 732.2 1,199.4 9.0 6.1 (8.1)
Jan-Mar 415.6 497.7 68.5 203.2 769.4 1,185.0 14.9 29.7 15.1
Apr-Jun 485.5 574.4 85.4 224.1 883.9 1,369.4 28.4 62.0 24.3
FY22 2,280.5 2,531.9 321.0 1,009.5 3,862.3 6,142.8 31.7 27.4 28.9
Jul-Sep 481.4 624.4 70.9 221.3 916.6 1,398.0 32.4 43.3 26.6
Oct-Dec 538.1 650.1 74.6 259.0 983.7 1,521.8 15.2 34.7 11.0
Jan-Mar 559.1 591.7 78.6 234.4 904.7 1,463.8 34.5 18.9 14.7
Apr-Jun 701.9 665.7 96.9 294.7 1,057.3 1,759.2 44.6 15.9 13.5
FY23 3,272.4 2,592.1 369.8 934.8 3,896.7 7,169.1 43.5 0.9 16.7
Jul-Sep 682.7 642.1 79.1 230.0 951.2 1,633.9 41.8 3.8 16.9
Oct-Dec 843.0 629.8 85.2 237.0 952.0 1,794.9 56.7 (3.2) 17.9
Jan-Mar 783.3 629.1 80.5 234.2 943.8 1,727.1 40.1 4.3 18.0
Apr-Jun 963.5 691.1 125.0 233.7 1,049.7 2,013.2 37.3 (0.7) 14.4
Source: Ministry of Finance Govt. of Pakistan
32
Public Finance
(Millions Rupees)
5. NIT Units 36 41 32 28 33 29 38
7. Government Securities - - - - - - -
8. Shares and Debentures of Companies 170 295 237 260 352 323 341
9. Annuities - - - 2 4 4 4
10. Life Insurance Policies 310 380 422 378 400 390 487
11. Provident Fund Credit Balances 1,006 961 1,124 1,204 1,262 1,522 2,373
Total Deduction of Zakat at Source 8,121 7,301 9,066 7,814 6,026 10,657 7,242
33