The State Bank of Pakistan (SBP) has transferred Rs. 1.932 trillion in profits to the federal government during the first two months of FY27, exceeding its full-year revenue target by nearly Rs. 500 billion.
The amount is significantly higher than the Rs. 1.435 trillion projected by the Finance Ministry for the entire fiscal year.
The central bank had also transferred Rs. 2.619 trillion to government revenues in FY26, exceeding its annual target of Rs. 2.4 trillion.
SBP Remains Largest Source of Non-Tax Revenue
The transfer represents surplus profits generated by the central bank during the previous fiscal year. Under amendments to the SBP Act approved by Parliament, these profits are transferred to the Finance Ministry at the start of the following fiscal year.
According to government revenue figures, total non-tax collections reached Rs. 2.36 trillion during July and August FY27, against an annual target of Rs. 5.33 trillion.
The SBP accounted for Rs. 1.932 trillion of these receipts, making it the largest contributor by a significant margin.
The petroleum levy ranked second, generating Rs. 220.2 billion during the two-month period.
Other major revenue sources included Rs. 27.58 billion from the Climate Support Levy, Rs. 25.85 billion in oil and gas royalties, Rs. 18.83 billion in markup on loans to state-owned enterprises and other entities, and Rs. 16.8 billion in markup from provincial governments.
The Pakistan Telecommunication Authority contributed Rs. 16.07 billion, while the Natural Gas Development Surcharge generated Rs. 12.61 billion.
Government Collects Revenue From Multiple Levies
The government also collected Rs. 7.22 billion through the New Energy Vehicle Adoption Levy and Rs. 7.279 billion from passport fees during July and August.
Other receipts included Rs. 5.1 billion from the windfall levy on crude oil, Rs. 3.71 billion from crude oil price discounts, Rs. 3.47 billion under the defence-related revenue category and Rs. 2.096 billion in dividends.
The petroleum levy on liquefied petroleum gas generated Rs. 634 million, while the United Nations contributed Rs. 881 million. Collections under the Gas Infrastructure Development Cess stood at Rs. 224 million.
Provincial government grants amounted to Rs. 34.8 billion, while other taxes generated Rs. 21 billion.
The government has set a petroleum levy collection target of Rs. 1.676 trillion for FY27. Its annual targets also include Rs. 140.5 billion from oil and gas royalties and Rs. 70.81 billion from the Natural Gas Development Surcharge.
Meanwhile, the Off the Grid Captive Power Plant Levy, which carries an annual target of Rs. 15.7 billion, generated no revenue during the first two months of the fiscal year.
