Islamabad November 4 2022: Pakistan fiscal deficit amounts to Rs 809 billion in the first quarter of fiscal year 2023 compared with Rs 438 billion of corresponding period last year, according to Ministry of Finance.
However, country reported primary surplus of Rs 145 billion which is also 21 percent lower when compared with the same period last year,
Total revenue collection increased by 12 percent year on year to Rs 2,017 billion in first quarter of fiscal year 23, which runs from July to June, compared with Rs 1,809 billion in the Q1 fiscal year 2022, while FBR collection increased 17 percent to Rs 1,638 billion in Q1 fiscal year 2023 compared with Rs 1,398 billion of corresponding period last year.
Tax to GDP ratio in Q1 of FY23 was 2.6% compare with 2.7% of Q1 of FY22.
Direct tax amounts to Rs 683 billion compared with Rs 481 billion, indirect taxes Rs 951 billion compared with Rs 917 billion, customs Rs 230 billion compared with Rs 220 billion and sales tax Rs 642 billion compared with Rs 624 billion.
Collection from Petroleum Levy in Q1 of FY23 amounted to Rs 47.8 billion against Rs 13.3 billion of the same period last year.
Government paid markup paymemts amounted to Rs 954 billion and Defence spending Rs 313 billion in Q1 fiscal year 2023 against Rs 623 billion and Rs 262 billion of the same period year ago.
