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Explanatory Memorandum on Federal Receipts

The Explanatory Memorandum on Federal Receipts is part of the federal budget for FY 2026-27. This page reproduces the text of its 84 PDF pages, extracted automatically from the official PDF published by the Finance Division, Government of Pakistan.

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FEDERAL BUDGET
 2 0 2   - 2     6   7

       GOVERNMENT OF PAKISTAN
            FINANCE DIVISION
              ISLAMABAD

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                     P R E F A C E

        Article 80(1) of the Constitution of Islamic Republic of Pakistan requires that the
Federal Government shall, in respect of every financial year, cause to be laid before the
National Assembly a statement  of estimated  receipts and expenditure  of the Federal
Government for that year, referred to as the Annual Budget Statement. The statement shall
also be transmitted to the Senate as required under Article 73(1) of the Constitution.

     “Explanatory Memorandum on Federal Receipts”  is a supplementry document
giving details of the nature and source of  all the federal receipts.  It  provides sources of
revenue that becomes part of the Federal Consolidated Fund (FCF) and are used to finance
expenditures outlined in the Annual Budget Statement. The document categorizes these
receipts into internal and external receipts  which  are  further  classified  into  tax,  non-
tax,   capital,  public  account  receipts  and Privatization proceed.The  public account
receipts include deferred  liabilities and deposit reserves. External receipts comprise of
foreign project and program assistance and other loans and grants.

       With the aim of helping the readers to form a broader view of the federal resources
that have determined the formulation of the Budget  for 2026-27, the nature of receipts
has also been explained.

            It is hoped that this document would be useful for a comprehensive understanding
of the Annual Budget Statement.

                                       IMDAD ULLAH BOSAL
                                          Secretary to the Government of Pakistan

Finance Division
Islamabad, the 12th June, 2026

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                        CONTENTS

                                                                  Page No.

Chapter 1:      Overview of Federal Resources                                     1-2
Part- I            Internal Receipts                                             3
Chapter 2:      Revenue Receipts                                                  5-7
Chapter 3:      Tax Revenue Receipts                                        8
                                              I. FBR Taxes                                            8-11
                                                      i.            Direct Taxes
                                                        ii.          Sales Tax
                                                         iii.          Federal Excise Duty
                                        iv.        Customs Duty

Chapter 4:     Non Tax Revenue Receipts                                    12
                                              I. Levies and Fees                                     12-13
                                                      i.           Mobile Handset Levy
                                                        ii.          Receitps of ICT Administration
                                                         iii.           Airport Fee
                                             II. Income From Property and Enterprises               13-23
                                                      i.           Surplus Profit of PTA & other
                                   Government Authorities

                                                        ii.          Mark-up Receipts

                                                         iii.          Dividend
                                            III. Receipts from Civil Administration etc                 24-32
                                                      i.          General Administration Receipts

                                                        ii.          Surplus Profit of State Bank of Pakistan
                                                         iii.         Defence Services Receipts
                                        iv.        Law and Order Receipts
                                  v.         Community Services Receipts
                                        vi.          Social Services Receipts

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                                                                  Page No.
                             IV. Miscellaneous Receipts                              32-44
                                                      i.          Economic Services Receipts
                                                        ii.          Foreign Grants
                                                         iii.          Other Receipts
                                        iv.          Extra Ordinary Receipts
                                  v.           Citizenship, Naturalization and Passport
                                  Fee
                                        vi.         Petroleum Levy
                                            vii.          Natural Gas Development Surcharge
                                              viii.         Royalty on Oil and Gas
                                         ix.          Discount Retained on Local Crude Oil
                                   x.           Windfall Levy against Crude Oil

                                         xi.        Gas Infrastructure Development Cess
Chapter 5:       Provincial Share in Revenue Receipts                            45-50
Chapter 6:       Capital Receipts                                               51-59
                                              I. Recoveries of Loans and Advances
                                             II. Domestic Debt Receipts (Non Bank) - Net
                                            III. Domestic Debt Receipts (Bank) - Net
Chapter 7:       Public Account Receipts                                        60-65
                                              I. Deferred Liabilities (Net)
                                             II. Deposits and Reserves (Net)
Chapter 8:       Privatization Proceeds                                        66
Part - II          External Receipts                                            67
Chapter 9:      Estimates of Foreign Assistance                                69-75
                                              I. Project Loans
                                             II. Programme Loans
                                            III. Other Loans
                 Ministry wise Break-up of Non-Tax Revenue Receipts             76-78

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                         CHAPTER 1

                  OVERVIEW OF FEDERAL RESOURCES

1.1      Resource  mobilization  is  essential  to meet  the  recurring  as  well  as  development
          expenditures. At the Federal level, resources are generated through a well-coordinated and
          concerted effort by the revenue collecting agencies and administrative units. All revenues
           collected by the collecting agencies and administrative divisions of the Federal Government,
              all loans raised, and all moneys received as repayments of loans form part of the Federal
          Consolidated Fund. Besides,  all other money received by or on behalf of the Federal
         Government or received or deposited with the Supreme Court or any other court established
         under the authority of the Federation are part of the Public Account of the Federation in terms
           of Article 78(1) and (2) of the Constitution of Islamic Republic of Pakistan. All revenue
           receipts are part of the Annual Budget Statement (ABS), which is presented before the
          National Assembly in terms of Article 80 of the Constitution.
1.2       Federal Revenue Receipts are broadly categorized as :-

                  (I)   Tax Revenue (TR)

                  (II)  Non-Tax Revenue (NTR)

1.3      Tax Revenue receipts are collected by the Federal Board of Revenue and are distributed
         amongst provinces in accordance with the provisions of Article 160 of the Constitution. Non-
        Tax Revenue is the revenue received by the Government in terms of Article 78(1) of the
           Constitution and the recurring income of the government from investments and provision of
          services but does not include those mentioned in Article 160(3) of the Constitution.

1.4        In addition to the revenue receipts, there are Capital Receipts reflected in Annual Budget
          Statement. Capital Receipts comprise of recoveries of loans and advances from provincial
         governments, local bodies, financial institutions etc. as well as Public Debt raised through
          various government securities. The former is part of Federal Consolidated Fund while Saving
        Schemes and net receipts from transactions under Deposits and Reserves form part of
          Public Account of the Federation.

1.5       Federal receipts may also be classified as internal receipts and external receipts. Internal
           receipts comprise of revenue receipts and capital receipts. External receipts comprise of
           project loans and  grants, progamme loans and other loans which are received from
          specialized financial institutions and friendly countries for specific development needs and
          budgetary requirements.

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                              TABLE 1
                    SUMMARY OF FEDERAL RESOURCES
                                                                                                                                 (Rs. In Million)
Object                                                2025-26        2025-26        2026-27
                         Description
Code                                            Budget       Revised       Budget
             Revenue Receipts
                1. Tax Revenue Receipts                   14,131,000.000   12,983,000.000   15,264,000.000  B
            FBR Taxes                               14,131,000.000   12,983,000.000   15,264,000.000
 B01             Direct Taxes                                6,902,000.000    6,431,754.000    7,613,000.000
 B02             Indirect Taxes                              7,229,000.000    6,551,246.000    7,651,000.000
                2. Non Tax Revenue Receipts               5,147,089.506    5,093,364.394    5,335,598.000
 B03           Levies and Fees                              29,789.750       37,000.000       41,589.000
               Income from Property and
 C01                                                         519,331.652      480,791.795      435,760.004
                  Enterprise
 C02           Receipts from Civil Administration, etc.      2,450,391.998    2,467,763.974    1,480,182.863
 C03           Miscellaneous Receipts                     2,147,576.106    2,107,808.625    3,378,066.133
                3. Total Revenue Receipts (1+2)            19,278,089.506   18,076,364.394   20,599,598.000
                4. Capital Receipts                           3,266,923.647    2,888,335.591    2,186,379.586
 E02          Recovery of Loans and Advances            603,000.000      749,547.000      426,308.690
               Domestic Debt Receipts (Net)               2,663,923.647    2,138,788.591    1,760,070.896 E03
                                                               22,545,013.15   20,964,699.985   22,785,977.586
                5. Total Internal Receipts (3+4)
                6. External Receipts                          5,777,554.488    5,024,516.997    6,779,624.450
                  Loans                                   5,734,689.864    4,980,139.363    6,739,430.625
                   Grants                                    42,864.624       44,377.634       40,193.825
                 Total Internal and External Receipts
                7.                                            28,322,567.641   25,989,216.982   29,565,602.036
                 (5+6)
                8. Public Account Receipts                   210,126.852      281,326.688      274,377.847
                Deferred Liabilities (Net)                     120,609.748      212,078.120      231,071.699
                Deposits and Reserves (Net)                  89,517.104       69,248.568       43,306.148
                9. Gross Federal Receipts (7+8)            28,532,694.493   26,270,543.670   29,839,979.883
             10. Less Provincial Share in Federal Taxes     8,205,723.051    7,591,797.020    8,848,492.864
             11. Net Federal Receipts                     20,326,971.442   18,678,746.650   20,991,487.019

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                       PART-I
                  INTERNAL RECEIPTS
(TAX REVENUE, NON-TAX REVENUE AND CAPITAL RECEIPTS)

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                           CHAPTER 2

                       REVENUE RECEIPTS

2.1      Revenue receipts constitute major component of total Federal resources. Revenue receipts
          are mainly categorized as Tax revenue receipts and Non-Tax revenue receipts, which are
           largely derived from the following sources:-

                                   i.          Collection of Federal Taxes by FBR
                                    ii.        Surplus Profit of Regulatory Authories/Bodies
                                    iii.       Mark up on loans advanced by the Federal Government
                          iv.        Dividends
                       v.        Fees, penalties and other Miscellaneous receipts realized by
                               administrative Ministries and Divisions of the Federal Government
                          vi.        Surcharges, Cess, Levy and Royalty on Petroleum

2.2     TAX REVENUE RECEIPTS
2.2.1    Tax Revenue receipts are administered by the Federal Board of Revenue (FBR). These
           receipts constitute inland revenue and can be categorized as direct taxes and indirect taxes.
           Direct taxes include income tax, capital value tax, ordinary collection (workers welfare fund)
        and contribution under companies profits (workers profit participation fund), while sales tax,
           federal excise duty, and customs duty constitute indirect taxes.

2.3    NON TAX REVENUE RECEIPTS
2.3.1    Non-Tax Revenue means revenues received by the Government in terms of Article 78(1) of
          the Constitution and the recurring income of the Government from investments and provision
           of services but does not include those mentioned under Article 160(3) of the Constitution.
         Non-Tax Revenue  of the Federal Government  is administered by various  Ministries  /
           Divisions/ Departments under the following broad categories:

                 i)      Levies and Fees
                  ii)     Income from Property and Enterprise
                   iii)     Receipts from Civil Administration etc
             iv)     Surplus Profit of Regulatory Authories/Bodies
           v)     Dividends
             vi)     Miscellaneous Reciepts

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Summary of Revenue Receipts with Budget Estimates and Revised Estimates for Fiscal Year 2025-26
and Budget Estimates for Fiscal Year 2026-27 is given as under:
                                TABLE 2
                      SUMMARY OF REVENUE RECEIPTS
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                            I. TAX REVENUE                           14,131,000.000   12,983,000.000   15,264,000.000
             FBR Taxes (1+2)                        14,131,000.000   12,983,000.000   15,264,000.000
  B01          (1) Direct Taxes                              6,902,000.000    6,431,754.000    7,613,000.000
  B011          Taxes on Income                           6,811,243.000    6,331,484.000    7,480,521.000
 B01501          Ordinary Collection (WWF)                    25,740.000        8,453.000       22,318.000
                    Contribution under Companies Profit
 B01502                                                         47,825.000       72,211.000       83,580.000
               (WPPF)
 B017-18          Capital Value Tax                             17,192.000       19,606.000       26,581.000
  B02          (2) Indirect Taxes                             7,229,000.000    6,551,246.000    7,651,000.000
 B020-22        Customs Duty                              1,588,000.000    1,366,047.000    1,651,000.000
  B023          Sales Tax                                  4,753,000.000    4,333,908.000    4,927,000.000
 B024-25         Federal Excise Duty                         888,000.000      851,291.000    1,073,000.000
                           II. NON TAX REVENUE (1+2+3+4)            5,147,089.506    5,093,364.394    5,335,598.000
B03             (1) Levies and Fees                             29,789.750       37,000.000       41,589.000
B03087           Mobile Handset Levy                          12,000.000       13,000.000       14,000.000
B013,14,                  Receipts of ICT Administration                17,736.750       23,928.000       27,517.000
16,26-30
B03064             Airport Fee (PAA)                                53.000           72.000           72.000
C01             (2) Income from Property & Enterprises       519,331.652      480,791.795      435,760.004
 C01008       PTA (4G/5G Licences)                        22,049.000       24,973.240       27,684.500
 C01012       PTA (Surplus)                                  1,100.000        1,640.000        1,300.000
                  Surplus Profit of other Regulatory
 C01012                                                          6,239.000        3,386.760        4,735.500
                    Authorities
  C012         Mark up (Provinces)                           95,809.652       93,791.795      100,802.004
 C013-18        Mark up (PSEs & Other)                     188,000.000      156,000.000      170,851.000
  C019           Dividend                                    206,134.000      201,000.000      130,387.000
                                                                                                                         contd….

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                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 Receipts from  Civil Admn &  Other
C02             (3)                                             2,450,391.998    2,467,763.974    1,480,182.863
                 Functions
C021-24          General Administration                         5,841.257        5,179.633        5,887.283
                  Surplus Profit of State Bank ofC02211                                                        2,400,000.000    2,428,364.394    1,435,750.000
                  Pakistan
C025            Defence Services Receipts                    35,442.364       28,000.000       31,473.000
C026          Law and Order Receipts                        5,624.680        3,350.403        4,091.047
C027           Community Services Receipts                  1,903.739        1,315.421        1,338.671
C028              Social Services Receipts                        479.958         454.123         492.862

C029              Social Services Receipts (Misc)                 1,100.000        1,100.000        1,150.000

C03             (4) Miscellaneous Receipts                   2,147,576.106    2,107,808.625    3,378,066.133
C031-35         Economic Services Receipts                  34,785.050       65,167.666       72,727.100
C03601           Foreign Grants                                 2,000.000        6,000.000        2,000.000
C03725            Extraordinary Receipts (UNO)                 31,200.000       24,700.000       25,600.000
C037              Extraordinary Receipts (Others)                 6,400.488        4,914.024        5,902.968
                  Grants/Receipts from Provinces under
C037                                                                                                      -                         -      1,035,000.000
                    Article-164
                    Citizenship, Naturalization & PassportC03897                                                          76,500.000       65,000.000       73,060.000
               Fee
C038             Other Receipts of Attached Departments     109,008.568      151,730.935      165,883.065

C03901          Petroleum Development Levy               1,468,395.000    1,498,000.000    1,676,509.000

C03902           Natural Gas Development Surcharge          49,437.000       63,000.000       70,814.000
C03905           Royalty on Oil                                 69,000.000       40,000.000       45,504.000
C03906           Royalty on Gas                              138,000.000       85,000.000       95,000.000
C03910           Discount Retained on Local Crude Oil         30,000.000       19,488.000       20,500.000
C03915            Windfall Levy against Crude Oil               20,000.000       16,106.000       17,000.000
C03916         Gas Infrastructure Development Cess           2,400.000        2,000.000        2,248.000
C03917          Petroleum Levy on LPG                        5,000.000        3,463.000        3,455.000
C03919            Windfall Levy on Gas                           450.000        1,239.000        1,127.000
                    Off the Grid (Captive Power Plants)C03920                                                        105,000.000       14,000.000       15,736.000
                 Levy
C03924           Climate Support Levy                                                 -         48,000.000       50,000.000
Total Revenue (Other than FBR)                              5,147,089.506    5,093,364.394    5,335,598.000
Total Revenue (including FBR)                              19,278,089.506   18,076,364.394   20,599,598.000
Less Prov share in Federal Taxes                              8,205,723.051    7,591,797.020    8,848,492.864

Net Federal Revenue Receipts                              11,072,366.455   10,484,567.374   11,751,105.136

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                           CHAPTER 3

                       TAX REVENUE RECEIPTS

3.1     FBR TAXES
3.1.1    FBR  collect Federal Revenues under two board categories  i.e. Inland Revenues and
        Customs Duty. Inland Revenues has two main categories namely:
             (a).    Direct Taxes, namely Income Tax, Workers Welfare Fund(WWF), Workers Profit
                   Participation Fund (WPPF) and Capital Value Tax (CVT),
             (b).                  Indirect Taxes, namely Sales Tax (ST) and Federal Excise Duty (FED).
        The Sales Tax is sub-divided into Sales Tax (Goods) and Sales Tax (Services, ICT only).
        Customs Duty is by definition an Indirect Tax/Indirect Federal Receipt.The following Table-3
        shows the budget and revise revenue estimates for FY 2025-26 and buget estimates for FY
          2026-27.
                                TABLE 3
                             ESTIMATES OF FBR TAXES

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B01                Direct Taxes                                6,902,000.000    6,431,754.000    7,613,000.000

B023             Sales Tax                                   4,753,000.000    4,333,908.000    4,927,000.000

B024-25          Federal Excise                              888,000.000      851,291.000     1,073,000.000

B020-22         Customs Duty                              1,588,000.000    1,366,047.000    1,651,000.000

                  Total                                      14,131,000.000   12,983,000.000   15,264,000.000

3.1.2     Detailed analysis of individual taxes/duties are highlighted below:

3.1.3    DIRECT TAXES

3.1.3.1   The revenue collection of Direct Taxes for July-March 2025-26 stood at Rs.4,637.76 billion
           with growth of 12.4%. The revised target of Direct Taxes for FY 2025-26 has been estimated
           at Rs. 6,431.754 billion. The target for FY 2026-27 has been estimated at Rs. 8,037.962
             billion.
3.1.3.2   The Workers Welfare Fund (WWF) and Workers Profit Participation Fund (WPPF) are also
           collected by field formations of Inland Revenue. The revised budget estimates for WWF and
      WPPF for FY 2025-26 is Rs.8.453 billion and Rs.72.211 billion, respectively, while for CVT it
             is Rs.19.606 billion.The target of WWF, WPPF and CVT for the FY 2026-27 has been
          estimated as Rs. 23.564 billion, Rs.88.245 billion and Rs.28.065 billion, respectively.
3.1.3.3   The Budget Estimates and Revised Estimates FY 2025-26 and Budget Estimates for 2026-
          27, on account of Direct Taxes are tabulated hereunder in Table 4:

Page 15

                               TABLE 4
                                  DIRECT TAXES
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B011            Income Tax                                6,811,243.000    6,331,484.000    7,480,521.000
B01501           Ordinary Collection (WWF)                    25,740.000        8,453.000       22,318.000
                    Contribution under Companies Profit
B01502                                                          47,825.000       72,211.000       83,580.000
               (WPPF)
B017-18           Capital Value Tax (CVT)                      17,192.000       19,606.000       26,581.000
                  Total                                       6,902,000.000    6,431,754.000    7,613,000.000
3.1.4     Sales Tax
3.1.4.1   The revenue collection of Sales Tax for July-March FY 2025-26 stood at Rs. 3,104.51 billion
         as against Rs. 2,860.74 billion in the corresponding period of the last financial year showing
        an increase of 8.5%. The revised target for FY 2025-26 is estimated at Rs. 4,333.908 billion.
        The target  for FY 2026-27 has been estimated at Rs. 4,927.0 billion. Details are given in
           table 5:
                                TABLE 5
                                 SALES TAX
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B023            Sales Tax (Goods)                         4,737,688.000    4,316,625.000    4,908,935.000
                 Sales Tax (Services) (ICT)                   15,312.000       17,283.000       18,065.000
B023             Total                                       4,753,000.000    4,333,908.000    4,927,000.000
3.1.5     Federal Excise Duty
3.1.5.1   The revenue collection of FED for July-March FY 2025-26 remained at Rs. 608.52 billion as
          against Rs. 537.03 billion in the corresting period of the last financial year showing a growth
           of 13.3%. The revised budget estimates  for FY 2025-26  is projected at Rs. 851.291
           billion.The target for FY 2026-27 has been estimated at Rs.1,073.0 billion. Details are given
            in table 6:

Page 16

                                TABLE 6
                            FEDERAL EXCISE DUTY
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B024            Beverage & Beverage Concentrate           166,134.000       83,005.000      103,967.000
               Cement                                     194,365.000      163,648.000      204,977.000
                   Cigarettes & Tobacco                        169,600.000      136,498.000      170,971.000
                   Natural Gas                                   10,618.000        6,383.000        6,315.000
             POL products                                 14,217.000       18,271.000       22,886.000
                  Imported Goods                             110,105.000      157,931.000      197,817.000
                    Total Services                               163,661.000      234,750.000      294,036.000
                 Sub-Total                                  828,700.000      800,486.000     1,000,969.000
                  Other Items                                  59,300.000       50,805.000       72,031.000
B024            Gross Total                                 888,000.000      851,291.000     1,073,000.000
3.1.6    Customs Duty
3.1.6.1   The revenue collection of Customs Duty for July-March FY 2025-26,stood at Rs.956.07
             billion showing an increase of 3.1% as compared to the corresponding period of FY 2024-
         25.The revised budget estimates for FY 2025-26 is projected at Rs. 1,366.047 billion. The
           target for FY 2026-27 has been estimated at Rs. 1,651.0 billion.
3.1.6.2  A summary of projection of Customs Duty target including the projection of collection from
         major revenue spinners during FY 2025-26 and FY 2026-27 is given at Table 7:

Page 17

                                TABLE 7
                             CUSTOMS DUTY
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B020-22          Vehicles (Non-Railway)                      232,115.000      313,288.000      378,748.000
             POL Products                               437,472.000      339,346.000      410,252.000
                    Iron & Steel                                 109,382.000       69,667.000       84,223.000
                 Machinery Mechanical Appliances             93,866.000       68,706.000       83,062.000
                      Electrical Machinery                           96,582.000       81,586.000       98,633.000
                   Edible Oil                                     70,944.000       75,277.000       91,006.000
                     Plastic Resins etc                             72,016.000       51,877.000       62,716.000
                     Articles of Iron and Steel                      29,914.000       24,414.000       29,516.000
                Paper and Paperboard                        40,657.000       29,584.000       35,765.000
                     Textile Materials                              40,494.000       35,297.000       42,672.000
               Tea & Coffee                                 43,376.000       34,203.000       41,350.000
                  Organic Chemicals                           22,632.000        8,329.000       10,069.000
                Dyes and Paints                              20,281.000       14,444.000        17,463.000
                  Export Development Surcharge (EDS)         32,226.000*       8,714.000**            0.00***
                  Misc.Chemical Products                      10,647.000        4,180.000        5,054.000
                   Staple Fibers                                 12,021.000       14,005.000       16,932.000
                  Others                                      268,111.000      250,705.000      313,622.000
B020-22           Total Gross Collection                       1,632,736.000    1,423,622.000    1,721,083.000
                  Refund and Rebates                            44,736.000       57,575.000       70,083.000
                  Net Collection                               1,588,000.000    1,366,047.000    1,651,000.000

        *EDS has been discontinued vide SRO No.2335(I)/2025 dated 01-12-25
          **Actual Collection in this head was made up to November, 2025,after which EDS has been
          discontinued vide SRO No.2335(I)/2025 dated 01-12-2025
         ***No revised forecast is applicable for FY 2025-26 and FY 2026-27 as EDS collection
          discontinued as per SRO No.2335(I)/2025 dated 01-12-2025

Page 18

                           CHAPTER 4
                      NON TAX REVENUE
4.1      Non-Tax Revenue represents the recurring income earned by the Federal government from
         sources other than taxes. Major receipts under this head are "interest receipts" (received on
          loans extended by the Federal government to provinces, public sector enterprises etc),
          "dividends" received from public sector entities, "several receipts" from petroleum sector and
            "profits"  earned by  various  regulatory  authorities.  Various  services  provided by  the
         government i.e social services, community services, economic services, defence services etc
          also  yield  revenue  for  the  government.  Breakdown  of  Non-Tax  Revenue  against
           ministries/divisions, departments, institutions and authorities is given as Annex  III. On the
          basis of functional classification, Non-Tax Recenue falls under four major heads i.e. levies
        and fees, income from property and enterprises, receipts from civil administration and other
           functions, and misc receipts of the federal ministries, divisions and departments.

4.2     Summary of Non-Tax Revenue with Budget and Revised Estimates for Fiscal Year 2025-26
        and Budget Estimates for Fiscal Year 2026-27 is given below:-
                                TABLE 8
                           Summary of Non-Tax Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
B03              Levies and Fees                              29,789.750       37,000.000       41,589.000
C01             Income from Property and Enterprises        519,331.652      480,791.795      435,760.004
                  Receipts from civil admn and other
C02                                                            2,450,391.998    2,467,763.974    1,480,182.863
                    functions
C03              Miscellaneous Receipts                     2,147,576.106    2,107,808.625    3,378,066.133
                        TOTAL                    5,147,089.506    5,093,364.394    5,335,598.000
4.3       Levies and Fees
4.3.1     Major sources of Levies and Fees comprise the receipts of the Islamabad Capital Territory
           Administration, Mobile Handset Levy, and Airport Fee.
4.3.2     Receipts of Islamabad Capital Territory Administration
4.3.2.1  A number of levies and fees are collected by the ICT Administration. Receipts included in this
          category are Motor Vehicle Registration, Token Fee, Stamp Duties, Tax on Hotels, Land
        Revenue etc. These receipts are collected under various laws.
4.3.3     Mobile Handset Levy
4.3.3.1   Mobile Handset Levy was imposed on import of high-end mobile handsets.

Page 19

4.3.4     Airport Fee

4.3.4.1   Pakistan Airports Authority collects Airport Fee from passengers for various services offered
           at the airports at rates notified by the Government from time to time. The airline companies
         charge Airport Tax at the time of preparation of Air Ticket and deposit the same in the
          Federal treasury.
4.3.4.2   Budget and Revised Estimates for Fiscal Year 2025-26 and Budget Estimates for 2026-27 on
         account of Levies and Fees are tabulated below:-

                                TABLE 9
                                         Levies and Fees
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget

                 Receipts of Islamabad Capital
               (A)                                                17,736.750       23,928.000       27,517.000
                   Territory(ICT)

B013              Property Tax                                   380.000         380.000         381.000

B014            Land Revenue (Mutation Fee)                   500.000         600.000         732.000

B01601           Ordinary Collection (E.T.O)                       90.000           90.000         100.000

B026             Excise Duty (E.T.O)                             550.000         715.000         750.000
B02701           Sale of Stamps (DC)                           3,000.000        2,700.000        4,000.000
                 Sale of Stamps IDP & Copy Branch
B02731                                                               0.400            3.000            4.000
                 (DC)
B02732           Court/Regular Fine (DC)                           7.800           30.000           40.000
B02735           Fines and Penalities (DC)                          4.000            5.000            5.500
B02801           Motor Vehicles Registration Fee                8,000.000       13,500.000       15,000.000
B02802           Motor Vehicles Annual Token Fee              4,500.000        5,000.000        5,500.000
B02812           Vehicles Route Permit Fee                         2.000            2.500            2.500
B03021           Education Cess                                    0.050            0.050            0.050
B03052          Tobacco License Fee                              0.500            0.500            0.550

B03053          Real Estate/M.V Dealer License Fee                2.000            1.950            1.400
                Tax on Hotels levied under Finance Act
B03056                                                           700.000         900.000        1,000.000
                1965
B03087        (B) Mobile Handset Levy                        12,000.000       13,000.000       14,000.000

B03064        (C) Airport Fee                                      53.000           72.000           72.000

                 Total Levies and Fees (A+B+C)             29,789.750       37,000.000       41,589.000

4.4      Income from Property and Enterprises
4.4.1     Income from Property and Enterprises comprises of profits earned by regulatory authorities,
         Mark-up receipts on loans extended to provinces, AJK, Public Sector Enterprises, Local
          bodies, etc and dividends paid on Federal government's investment in the share capital of
           financial and non financial institutions. Revised Estimates for Fiscal Year 2025-26 and
         Budget Estimates for FY 2026-27 are given as under:-

Page 20

                               TABLE 10
                           Income from Property and Enterprises
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27                          Description
  Code                                            Budget       Revised       Budget
C01            Income from Property & Enterprises
C010              Total Surplus of Govt Authorities              29,388.000       30,000.000       33,720.000
C012              Total Mark-up (Provinces)                     95,809.652       93,791.795      100,802.004
               Mark Up (PSEs & Others)
C013              Total Mark Up Local Bodies                  162,351.023      171,537.644      177,641.487
C014              Total Mark-up (Financial Institutions)             518.797         518.797         499.968
C015              Total Non-Financial Institutions                68,830.416       80,439.577       80,386.829
C016              Total Government Servants                     593.475         205.264         228.556
C017              Total AJK & Others                             3,811.689        3,710.112        4,990.370
C018              Total Mark-up Receipts (Others)              110,010.000      140,005.000      110,005.000
                  Total Mark Up (PSEs & Others)             346,115.400      396,416.394      373,752.210
                  Estimated Shortfall                          158,115.400      240,416.394      202,901.210
                Net Mark Up (PSEs & Others)              188,000.000      156,000.000      170,851.000
C019              Total - Dividends                            206,134.000      201,000.000      130,387.000
                  Total Income from Property &
C01                                                            519,331.652      480,791.795      435,760.004
                  Enterprises

4.4.2     Surplus Profit of PTA and Other Government Authorities
4.4.2.1    Profits earned by the Regulatory Authorities  i.e PTA, NEPRA, SECP, PNRA, PEMRA
        ,OGRA, PQA, DRAP and AOB by way of levy of fees, charges, penalties etc. after settling of
            their authorized expenses is deposited in the Federal Consolidated Fund. Brief introduction
           of Regulatory Authorities is given as under and related statistics in Table 11.
4.4.2.2   Pakistan  Telecommunication  Authority  (PTA)   is  mandated   to;    i)  regulate  the
          establishment, operation and maintenance of telecommunication systems and provision of
          telecommunication services in Pakistan;  ii) dispose off applications for the use of radio-
          frequency spectrum, promote and protect the  interests  of users  of telecommunication
          services in Pakistan; iii) promote the availability of a wide range of high quality, efficient, cost
           effective and competitive telecommunication services throughout Pakistan; iv) promote rapid
          modernization of telecommunication systems and telecommunication services; v) investigate
        and adjudicate on complaints and other claims made against licensees arising out of alleged
          contraventions of the provisions of the Act, the rules made and licenses issued thereunder. It
          also imposes fines and penalties for violations.

Page 21

4.4.2.3   National Electric Power Regulatory Authority (NEPRA)  is mandated to develop and
         pursue a regulatory framework, which ensures the provision of safe, reliable, efficient and
           affordable electric power to the electricity consumers of Pakistan.  It facilitate the transition
         from a protected monopoly service structure to a competitive environment and maintaining a
         balance between the interests of the consumers and service providers in unison with the
         broad economic and social policy objectives of the Government of Pakistan. In order to
         ensure effective regulatory functions, NEPRA charges different fees at rates notified from
          time  to  time  for  Application &  Modification  Generation  License  Fee,  Application &
           Modification Transmission License Fee, Application & Modification Distribution License Fee,
           Application for the Approval of Competitive Bidding. Besides, NEPRA upfront tariff is also
           levied  like Fees Pertaining  to  Tariff Standards and Procedures Regulations 2002  i.e
         Generation Licenses, Transmission Licenses, Distribution Licenses, Consumers, etc.
4.4.2.4   Pakistan Nuclear Regulatory Authority (PNRA)  is entrusted with the responsibility to
           control, regulate and supervise all matters related to nuclear safety and radiation protection in
          Pakistan.  It charges Licensing Fee as approved from time to time from nuclear facilities,
          radiotherapy and nuclear cardiology centres etc.
4.4.2.5   Pakistan Electronic Media Regulatory Authority (PEMRA) is required to;  i) improve the
          standards  of  information,  education and  entertainment;   ii)  facilitate  the  devolution  of
           responsibility and power to the grass roots by improving the access of the people to mass
         media at the local and community level; and iii) ensure accountability, transparency and good
         governance by optimization the free flow of information. PEMRA charges Licensing Fee on
          prescribed rates for FM Radio, Satellite T.V, MMDS, IPTV, Cable TV, DTH, Landing Rights,
         Temporary Uplinking and Mobile TV.
4.4.2.6    Oil and Gas Regulatory Authority (OGRA) has been set up under the Oil and Gas
          Regulatory Authority Ordinance of March 2002 to;  i)  foster competition, increase private
          investment and ownership in the midstream and downstream petroleum industry; ii) protect
          the public interest while respecting individual rights and provide effective and  efficient
           regulations. In order to implement regulatory framework, OGRA  issues  Licences  to  oil
          marketing companies, gas  distribution  networks,  fertilizer manufacturing plant  etc. and
         charge fees for these services.  It also carries out inspections of  oil and gas distribution
         networks and imposes penalties in case of violations.
4.4.2.7   Drug Regulatory Authority of Pakistan (DRAP) has been established under the DRAP Act
        2012 with a mandate to;  i) provide effective coordination and enforcement of the Drug
          Act,1976;  and   ii)  bring harmony  in  inter  provincial trade and commerce  of  theraptic
         goods.The regulatory functions of DRAP include registration and marketing, authorization,
           inspection, laboratory testing, clinical trials etc. and fee is charged against these services.
4.4.2.8   Audit Oversight Board (AOB) is an organization formed under Part IXC of Securities and
        Exchange Commission of Pakistan Act, 1997. AOB was established in Pakistan to provide
          oversight  to ensure  audit  quality  of  Public  Interest Companies (PICs). AOB imposes
           penalities on Audit firms who fail to comply with requirements of SECP Act,1997.

Page 22

                               TABLE 11
                                   Surplus of Govt Authorities

                                                                                                                                   (Rs. In Million)
  Object                                                        2025-26        2025-26        2026-27                          Description  Code                                                   Budget       Revised       Budget
                 Surplus of Govt Authorities
                 Pakistan Telecommunication
        A                                                     23,149.000       26,613.240       28,984.500
                  Authority
C01008        PTA (4G/5G)                                 22,049.000       24,973.240       27,684.500
C01012        PTA Surplus                                   1,100.000        1,640.000        1,300.000
        B      Surplus + Profit                               6,239.000        3,386.760        4,735.500
C01012        NEPRA (Surplus)                               800.000         884.000         900.000
C01012        SECP (Surplus)                                  75.000           71.760           75.000
C01012        PNRA (Fines)                                      1.500            1.500            1.500
C01012       PEMRA (Surplus)                                  6.000            9.000            8.000
C01012       OGRA (Surplus+Fines)                         1,000.000         420.000         400.000
C01012            Port Qasim Authority (Surplus+Fines)           2,000.000        2,000.000        1,000.000
C01012          Drug Regulatory Authority of Pakistan           1,000.000                     -          1,000.000
C01012            Public Private Partnership Authority              200.000                     -            200.000
                  Pakistan Standard Quality Control
C01012                                                            1,000.000                     -          1,000.000
                    Authority
C01012           Pakistan Engineering Council                    150.000                     -            150.000
C01012            Audit Oversight Board                              6.500            0.500            1.000
C010             Total Surplus of Govt Authorities            29,388.000       30,000.000       33,720.000

4.4.3    Mark Up Receipts

4.4.3.1   Federal Government advances loans to Provinces, Government of Azad Jammu & Kashmir,
          Public Sector Enterprises, Local Bodies and others to assist them in carrying out their
         development programmes and social initiatives. These loans and advances are of two types,
         namely; i) Cash Development Loans; and ii) Foreign Re-lent Loans. The former is advanced
         by the Federal Government out of its own resources whereas the latter is obtained from
           froeign lenders.
4.4.3.2   Mark up accrued on the loans granted by the Federal Government to provincial governments,
           local bodies, financial institutions, non-financial institutions, commercial departments and
         government servants and foreign loans is reflected in this section. The mark up is charged in
         accordance with the terms and conditions of each loan agreement.
4.4.3.3   Unless specified otherwise, every loan other than foreign loan advanced by the Federal
         Government  to  the  provincial governments  is repayable over a  period  of 25  years.
         Moratorium of 5 years is allowed on recovery of principal. Simple mark up is realized at a rate
         determined annually by the Finance Division, as per actual borrowing cost of the Federal
         Government.
4.4.3.4   Federal Government also advances loans to the Government servants for house building and
            for the purchase of transport etc. These advances are governed by the rules as specified by
         Finance Division from time to time.
4.4.3.5    Detail of statistics of Mark-up is given in Tables 12-19

Page 23

                               TABLE 12
                                   Mark Up Receipts
                                             (Provinces)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                Punjab                                       42,475.018       43,492.075       42,222.831
C01201               Mark-up Cash Loans                      125.745           49.250                     -
C01205               Mark-up Foreign Loans                 42,349.273       43,442.825       42,222.831
                Sindh                                        31,665.061       31,380.723       36,149.325
C01202               Mark-up Cash Loans                     1,354.726        1,354.726        1,191.719
C01206               Mark-up Foreign Loans                 30,310.335       30,025.997       34,957.606
               Khyber Pakhtunkhwa                        19,762.810       17,236.346       20,428.234
C01203               Mark-up Cash Loans                                         -                         -                         -
C01207               Mark-up Foreign Loans                 19,762.810       17,236.346       20,428.234
                 Balochistan                                   1,906.763        1,682.651        2,001.614
C01204               Mark-up Cash Loans                      433.336         433.336         422.515
C01208               Mark-up Foreign Loans                   1,473.427        1,249.315        1,579.099
C012             Total Mark-up (Provinces)                   95,809.652       93,791.795      100,802.004
                                 Loan-Wise Break Up
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Mark Up - Cash Loans                         1,913.807        1,837.312        1,614.234
 C01201              Punjab                                   125.745           49.250                     -
 C01202              Sindh                                    1,354.726        1,354.726        1,191.719
 C01203              Khyber Pakhtukhwa                                          -                         -                         -
 C01204                Balochistan                               433.336         433.336         422.515
               Mark Up - Foreign Loans                     93,895.845       91,954.483       99,187.770
 C01205              Punjab                                 42,349.273       43,442.825       42,222.831
 C01206              Sindh                                   30,310.335       30,025.997       34,957.606
 C01207              Khyber Pakhtoonkhwa                  19,762.810       17,236.346       20,428.234
 C01208                Balochistan                              1,473.427        1,249.315        1,579.099
C012             Total Mark-up (Provinces)                   95,809.652       93,791.795      100,802.004

Page 24

                               TABLE 13

                             Mark Up Receipts (Local Bodies)

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Mark Up (Local Bodies)
               Mark Up - Cash Loans (A)                  107,100.392      116,027.783      127,641.874
C01399        PBC                                           288.387         560.471         655.723
C01399       NHA                                          80,689.421       80,689.421       88,890.371
C01399         PIAHCL                                      12,129.585       20,239.985       23,727.128
C01399       CDA                                           300.903         300.903         288.929
C01399          Saindak Metal Ltd                              2,364.033        2,364.033        2,259.226
C01399           Pakistan Machine Tool Factory                   51.500           51.500           51.500
C01399           State Engineering Corporation                      5.263           11.028           12.117
C01399         Heavy Mechanical Complex Taxila                31.524           31.524           30.443
C01399         Heavy Electric Company                          10.296           10.296           10.296
C01399          Lahore Garment City Lahore                      96.596           96.596           96.596
C01399           Pakistan Engineering Company                 186.056         164.171         164.171
C01399            Printing Corporation of Pakistan                   44.658           44.690           43.327
C01399           Pakistan Steel Mills                           10,902.170       11,463.165       11,412.047

               Mark Up - Foreign Loans (B)                 55,250.631       55,509.861       49,999.613

C01399         GIK Institute                                       0.429            0.427            0.305
C01311           Karachi Port Trust                              1,561.073        1,507.243        1,443.256

C01324        PAEC                                          6,056.824        5,902.860        4,599.721

C01399        SKMT                                             0.581            0.578            0.332
C01330       NHA                                          44,588.978       44,823.812       40,723.333
C01399        PPAF                                            25.685           25.685           16.757
C01399        NEPRA                                            1.651            1.651            1.531
C01399        TEVTA                                            4.380            4.380            0.876
C01517       OGRA                                             1.884            1.884            1.747
C01399       SSGC                                             0.805            0.805            0.730
C01399         Gwadar Port Authority                           688.752         688.752         688.752
C01399       SUPARCO                                     2,125.410        2,357.605        2,349.086
C01399       SCO                                           194.179         194.179         173.187

C013             Total Mark Up Local Bodies (A+B)          162,351.023      171,537.644      177,641.487

Page 25

                               TABLE 14
                                   Mark Up Receipts
                                          (Financial Institutions)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
         Mark up Foreign Loans
C01499       PMRC                                          518.797         518.797          499.968
                  Total Mark-up              (Financial
C014                                                             518.797         518.797         499.968
                    Institutions)
                               TABLE 15
                                   Mark Up Receipts
                                     (Non-Financial Institutions)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                (I) Power Sector                                     68,741.646       80,351.353        80,361.221
                Mark-up Cash Loans (A)                     22,333.126       23,291.119       23,877.967
C01501       WAPDA (water wing)                            514.247         514.247         501.591
C01502       WAPDA (power wing)                          7,829.800        7,829.800        7,532.272
C01599        TESCO                                            0.809            0.809            0.180
C0150A       QESCO                                        2,492.089        2,491.881        2,479.836
C01599       MEPCO                                         84.045           84.045           80.272
C0150B        GENCO-I                                      4,536.703        4,300.369        4,300.369
C0150B         GENCO-II                                      820.719         820.719         779.642
C0150B          GENCO-IIII                                     159.559         159.559         145.678
C0150B        GENCO-IV                                       77.331           77.331           77.331
C0150C       NTDC                                          3,131.240        4,316.820        5,193.780
C01599        NJHP                                          1,972.522        1,972.522        1,883.858
C01730        PESCO                                        714.062         723.017         903.158
               Mark up-Foreign Loans (B)                  46,408.520       57,060.234       56,483.254
C01530       WAPDA (power wing)                         14,166.755       24,190.270       24,244.542
C01599          Jamshoro Power Company Ltd                 9,182.374        9,827.519       10,467.810
C01599        LESCO                                        208.746         208.746         190.242
C01599        NTDC                                        15,248.022       15,207.839       15,225.038
C01599        IESCO                                         1,005.580        1,005.436         946.594
C01599       HESCO                                        218.591         218.591         193.761
C01599        PESCO                                        244.500         243.847         222.239
C01599       QESCO                                        481.064         481.064         438.853
C01599       GEPCO                                        376.064         398.563         342.821
C01599        FESCO                                        223.164         223.164         202.115
C01599       MEPCO                                        364.161         365.696         336.827
C01599        PEPCO                                          43.105           43.105           40.279
C01599        NJHP                                          4,646.394        4,646.394        3,632.133
                                                                                                                 contd…

Page 26

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                  (II) Autonomous Bodies/Corporations                  88.770           88.224           25.608
               Mark up Foreign Loans                         88.770           88.224           25.608
C01527           Pakistan Railways                                88.770           88.224           25.608
C01599           Korangi Fish Harbour Authority                                   -                         -                         -
C015             Total Non-Financial Institutions (I+II)        68,830.416       80,439.577       80,386.829
                               TABLE 16
                                   Mark Up Receipts
                                   (Government Servants)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
C016           Government Servants
C01605           Cantt/Garrison Educational Institutions              4.737            4.977            5.226
C01605            Office of the AGPR, Isb                         256.333                     -                         -
C01605       AGPR sub-office, Lahore                         99.512                     -                         -
C01605       AGPR sub-office, Karachi                       147.055           63.194           69.514
C01605       AGPR sub-office, Peshawar                      11.224           14.523           15.249
C01605       AGPR sub-office, Quetta                           7.019            7.770            8.158
C01605       AGPR sub-office, Gilgit                           31.828           69.574           72.357
C01605          Defence                                         18.080           27.952           39.134
                      Military Accountant General,
C01605                                                               4.413            5.604            8.400
                  Rawalpindi
C01605           Pakistan Post Office Department                   4.842            4.358            3.922
C01605       CAO (Ministry of Foreign Affairs)                   1.240            1.670            1.837
C01605           Pakistan Mint                                      0.964            0.992            1.726
C01605           Central Dte of National Savings                    5.438            4.650            3.033
C01605           Geological Survey of Pakistan                                    -                         -                         -
C01605           National Tariff Commission                         0.790                     -                         -
C016             Total Government Servants                    593.475         205.264         228.556

Page 27

                               TABLE 17
                                   Mark Up Receipts
                                     (AJK & Others)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Mark up - Cash Loans (A)                     2,089.035        1,972.408        3,372.584
              Ways & Means Advances to Provinces,
                                                                                                              -                         -                         -
                  AJK/Special Areas
C01701          Government of AJ&K                           2,089.035        1,972.408        3,372.584
               Mark up - Foreign Loans (B)                  1,722.654        1,737.704        1,617.786
C01702          Government of AJ&K                           1,466.014        1,486.386        1,418.778
C01709          Government of GB                              150.065         148.418         153.333
C01799          Guarantee Fee on Foreign Loans (EAD)         106.575         102.900           45.675
C017             Total AJK & Others (A+B)                     3,811.689        3,710.112        4,990.370
                               TABLE 18
                                Mark Up Receipts (Others)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Mark up - Cash Loans
C01801           Pakistan Post Office Department                  10.000            5.000            5.000
C01823          Mark up (others)                             110,000.000      140,000.000      110,000.000
C018             Total Mark-up Receipts (Others)            110,010.000      140,005.000      110,005.000

Page 28

                               TABLE 19
                    Summary of Mark Up (Provinces, PSEs & Others)
                                                                                                                                   (Rs. In Million)
 Object                                                2025-26        2025-26        2026-27
                        Description
 Code                                            Budget       Revised       Budget
                  Total Mark up Cash Loans
                                                                242,126.028      281,501.574      265,125.981
               (PSEs & Others)
                  Total Mark up Foreign Loans  (PSEs
                                                                103,989.372      114,914.820      108,626.229
            & Others)
C012             Total Mark-up (Provinces)                   95,809.652       93,791.795      100,802.004
C013              Total Local Bodies                           162,351.023      171,537.644      177,641.487
C014              Total Financial Institutions                       518.797         518.797         499.968
C015              Total Non-Financial Institutions                68,830.416       80,439.577       80,386.829
C016              Total Government Servants                     593.475         205.264         228.556
C017              Total AJK & Others (A+B+C)                    3,811.689        3,710.112        4,990.370
C018              Total Mark-up Receipts (Others)              110,010.000      140,005.000      110,005.000
                  Total Mark up (PSEs & Others)             346,115.400      396,416.394      373,752.210
                  Estimated Shortfall                          158,115.400      240,416.394      202,901.210
                Net Total (PSEs & Others)                  188,000.000      156,000.000      170,851.000
C012-018       Grand Total (Mark-up)                   283,809.652    249,791.795    271,653.004

4.4.4     Dividends on Government Investments
4.4.4.1   Dividends represent return on Federal Government's investment in the share capital of
           financial and non-financial institutions. The receipt of dividends varies from year-to-year
         depending upon profits earned by these entities.
4.4.4.2   The details of the estimates are given in table below:

Page 29

                               TABLE 20

                                     DIVIDENDS

                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27
                           Description
  Code                                            Budget       Revised       Budget

C01901           Financial Institutions (A)                      2,275.000       76,528.850        1,719.125
C01901           National Investment Trust                       350.000         250.000         350.000
C01901        NBP                                             75.000         276.350         300.000
C01901         Pak Oman Investment Co                       300.000         307.500         169.125
C01901         Pak Brunei Investment Co                       450.000         150.000         150.000
C01901         Pak Iran Joint Investment Co                    350.000         125.000         150.000
C01901          Pak-China Investment Co                       150.000                     -            150.000
C01901           Pakistan Development Fund Ltd                                 -         75,000.000                     -
C01901          Exim Bank                                     150.000         150.000         150.000
C01901           Pakistan Mortagage Refinance Co. Ltd           450.000         270.000         300.000
C01902          Non-Financial Institutions (B)              203,859.000      124,471.150      128,667.875
C01902           Pakistan Petroleum Limited                   42,995.000       16,663.643       16,000.000
C01902           Mari Energies Limited                          3,572.781        5,207.196        5,069.875
C01902           Pakistan State Oil                              1,500.000        1,055.041        1,500.000
C01902         Pak Arab Refinery                            37,051.000       19,928.400       20,000.000
C01902        SNGPL                                        2,500.000         602.794         700.000
C01902        SSGCL                                                                     -            234.234         250.000
C01902        GHPL                                          9,000.000        5,000.000        7,000.000
C01902       OGDCL                                      94,489.313       58,000.000       60,000.000
C01902       PMDC                                         400.000         400.000        1,200.000
C01902          SLIC                                           2,200.000        6,200.000        3,500.000
C01902         NIC                                            800.000         800.000        1,000.000
C01902         Pak Re-Insurance Corporation                   944.472         459.000         800.000
C01902            Fauji Fertilizer Co.Ltd                           277.323         269.000         300.000
C01902           National Power Park Management Co                         -          3,918.919        4,200.000
C01902         PIDC                                          100.000         100.000         150.000
C01902           Pakistan National Shipping Corp                4,625.348        4,857.000        5,000.000
C01902        NESPAK                                        80.000           80.000           80.000
C01902        PTCL                                          2,000.000                     -          1,000.000
C01902        NFC                                           250.000         250.000         300.000
C01902        NTDC                                          464.000                     -                         -
C01902           Trading Corporation of Pakistan                 500.000         428.934         600.000
C01902          Tourism Promotion Services                       3.763            6.500            7.000

C01902        PERAC                                            6.000           10.489           11.000
C01902        PASSCO                                       100.000                     -                         -
C019                Total - Dividends (A+B)                       206,134.000      201,000.000      130,387.000

Page 30

4.5      Receipts from Civil Administration and Other Functions
4.5.1    These receipts comprise of General Administration Receipts, Defence Services Receipts,
        Law and Order Receipts, Community Services Receipts and Social Services Receipts.
         Revised Estimates 2025-26 and Budget Estimates 2026-27 are given below:
                               TABLE 21
                       Receipts from Civil Administration and Other Functions
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 Receipts from Civil Administration
C02
               and Other Functions
C021              Total Receipt from Civil Adminstration            268.887         223.505         250.000
                    Total General Admn. Receipts - Fiscal
C022                                                           2,401,270.270    2,429,599.652    1,436,985.213
             Admn
C023              Total Economic Regulations                    4,300.000        3,700.000        4,400.000
C024              Total General Admn. Statistics                     2.100           20.870            2.070
C025              Total Defence Services Effective              35,442.364       28,000.000       31,473.000
C026              Total Law and Order Receipts                  5,624.680        3,350.403        4,091.047
C027              Total Community Services Receipts            1,903.739        1,315.421        1,338.671

C028              Total Social Services                            479.958         454.123         492.862

C029              Total Social Services Miscellaneous            1,100.000        1,100.000        1,150.000
                  Total Receipts from Civil
C02                                                            2,450,391.998    2,467,763.974    1,480,182.863
                  Administration and Other Functions
4.5.2     General Administration Receipts
4.5.3     Organs of State
4.5.3.1   These receipts are realized on account of fees received from the candidates appearing in
          various competitive examinations conducted by Federal Public Service Commission (FPSC)
        and receipts of Election Commision of Pakistan under Elections Act, 2017. Estimates of
           receipts on this account are given below:-

Page 31

                               TABLE 22
                          Receipt from Civil Adminstration- Organs of State
                                                                                                                               (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 Receipt from Civil Adminstration
C021           Organs of State
                Organs of State - Examination Fee
C02101            realized by Federal Public Service               200.000         180.000         200.000
                Commission (FPSC)
                  Receipts of Election Commission of
C02166                                                             68.887           43.505           50.000
                  Pakistan under Election Act, 2017
                  Total Receipts from Civil
C021                                                             268.887         223.505         250.000
                 Adminstration
           Fiscal Administration
4.5.4
4.5.4.1    Audit Fee-The department of the Auditor General of Pakistan charges fee from autonomous
          bodies/corporations etc. which do not fall within its normal audit jurisdiction, for auditing their
          accounts.
4.5.4.2    State Bank of Pakistan Receipts- The surplus profit of the State Bank of Pakistan is
           transferred to the Federal Government in the light of Section 42 SBP (Amendment) Act,
         2022.
4.5.4.3    Pakistan Mint Receipts - Pakistan Mint's receipts are mainly from the disposal of dross &

          scrap and from minting of medals for defence services, sports and academic institutions etc.
4.5.4.4   Pension and Gratuity Contribution  - These receipts pertain  to pension and  gratuity
           contributions by the borrowing departments in respect of officials serving on deputation basis.
        The estimates of receipts from fiscal administration are given below:

Page 32

                               TABLE 23
                       General Administration Receipt - Fiscal Adminstration
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 General Administration. Receipts
C022              Fiscal Administration - Audit (A)              1,270.270        1,235.258        1,235.213
C02204           Receipts of AGP office (Audit Other)                0.050            0.062            0.005
                    Collection of Payment for service
C02205                                                                                                  -              0.016            0.008
                  rendered (AGP)
C02206            Audit Other (AGP)                                 0.220            0.180            0.200
C022              Fiscal Administration - Currency (B)      2,400,000.000    2,428,364.394    1,435,750.000
C02211           State Bank of Pakistan Profit                2,400,000.000    2,428,364.394    1,435,750.000
C022              Fiscal Administration - Mint
C02233           Pakistan Mint (Assay Account)                   200.000         200.000         200.000
                   Fiscal Administration in Aid of
C022
                Superannuation
C02241            Contribution of Pension (CGA)                   10.000            5.000            5.000
                    Contribution of Pension and Gratuities
C02241                                                            1,000.000        1,000.000        1,000.000                   (Federal)
C02244            Contribution to GPf (PPOD)                       60.000           30.000           30.000
                  Total General Administration
C022                                                           2,401,270.270    2,429,599.652    1,436,985.213
                 Receipts (A+B)
4.5.5    Economic Regulations
4.5.5.1   The receipts on this account largely comprise of insurance fee realized under Insurance
          Ordinance, 2000. The estimates are given below:
                               TABLE 24
                      General Administration Receipt - Economic Regulations
                                                                                                                               (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Economic Regulations
                Fees realized under Insurance Act 1938/
C02302                                                            3,600.000        2,200.000        2,600.000
                (SECP)
                  Receipts under Anti Dumping Duties
C02308                                                           700.000        1,500.000        1,800.000
                  Ordinance, 2000 (Commerce Division)
C023             Total Economic Regulations                  4,300.000        3,700.000        4,400.000

Page 33

                               TABLE 25
                        General Administration Receipt Economic Statistics
                                                                                                                               (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 General Administration. Statistics
                 Sale of Census Publication
C02401                                                               1.200           20.000            1.200              (MoPD & S I)
                 Sale of data Misc. Receipts (Others)
C02470                                                               0.900            0.870            0.870              (MoPD & S I)
                  Total General Administration
C024                                                                 2.100           20.870            2.070
                    Statistics
               Grand Total Gen Admn
C021-24                                                           5,841.257        5,179.633        5,887.283
                  (Excl SBP Profit)
4.5.6     Defence Services Receipts
4.5.6.1   These receipts are realized mainly on account of dues from civil agencies, sale & auction of
          obsolete stores and charges realized on account of use of army aviation facilities, hospital
         stoppages roll and receipt of Govt. share out of the fees paid by civil patients treated in
            Military Hospitals etc.
4.5.6.2   The estimates of defence receipts are given below :-
                               TABLE 26
                                 Defence Services Receipts
                                                                                                                               (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                Defence Services Effective
                     Effective (MOD+Defence ProductionC02520                                                          31,857.850       25,500.000       28,473.000
                     Division)
C02520            Hospital Stoppage (Defence Division)           3,584.514        2,500.000        3,000.000
C025             Total Defence Services Effective            35,442.364       28,000.000       31,473.000

Page 34

4.5.7    Law and Order Receipts
4.5.7.1   These receipts represent the proceeds from fines imposed by Insurance Appellate Tribunals,
          Federal Services Tribunals, Income Tax Tribunals, Drug Courts and Special Judges under
          the administrative control of Law and Justice Division. These also include fines, fees and
          recoveries of the Supreme Court of Pakistan, Civil Armed Forces and Frontier Watch &
         Ward. The fees realized on account of issuance and renewal of arms licenses by the Ministry
           of Interior & Narcotics Control are also reflected under this classification.The estimates of
           receipts from law and order are given as under:
                               TABLE 27
                              Law and Order Receipts
                                                                                                                               (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
              Law and Order Receipts
                 General Fees, Fines & Forfeitures
C02604                                                           380.000         200.000         250.000                    (Justice Law Courts)
                 General Fees, Fines & Forfeitures
C02604                                                               0.200            0.100            0.050                   (Federal Shariat Court)
C02613           Others (FST)                                      0.100            0.498            0.745
                  Medical Tribunal Fee
C02615                                                               0.150            0.025            0.030                   (Medical Tribunal Islamabad)
                   Frontier Watch and Ward
                    Frontier Constabulary & Militia Receipts
C02621                                                           450.000         260.000         260.000
                 (MOI)
C02624           Recoveries of overpayments (CAF)              403.050         117.495         130.222
C02625           Others (ICT)                                       6.930           10.830           11.000
C02635           Receipts under Arms Act (MOI)                  800.000         500.000         880.000
C02637           Receipts of Motor Driving Licenses (ICT)        2,000.000        1,500.000        1,800.000
C02637          Motor Driving License (NHMP)                    34.000           38.000           40.000
C02638             Traffic Fines (ICT)                              1,500.000         600.000         650.000
                    Collection of payment for services
C02641                                                             20.000           12.000           12.000
                  rendered
C02647           Fines and Penalties (CAF, Interior)                 3.250            0.625            7.625
                  Recoveries of Over Payments (CAF,
C02648                                                               5.000            1.830            8.830
                       Interior)
C02650           Others                                           22.000         109.000           40.545
C026             Total Law and Order Receipts                5,624.680        3,350.403        4,091.047

Page 35

4.5.8    Community Services Receipts
4.5.8.1   The receipts under community services comprise of rent of government buildings, land, guest
         houses, hostels and sale proceeds of material of demolished buildings. These receipts are
           realized by Ministry of Housing and Works, Ministry of National Health Services Regulations
        and Coordination, and Ministry of Interior and Narcotics Control (Frontier Corps). The receipts
           realized by Survey of Pakistan for its services and supply of maps are also included here.
           Details of the estimates are given below:-
                               TABLE 28
                             Community Services Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
              Community Services Receipts
C02701            Building Rent (ICT)                                7.000            6.000            7.059
C02701            Building Rent (AGPR)                              0.200                     -                         -
C02701            Building Rent (CGA)                               1.700                     -                         -
C02701            Building Rent by NLP (Heritage Div)                           -                         -              4.406
                 Rent of Govt Buildings realized by
C02701                                                            1,260.000         962.000        1,000.000
                   Estate Office
C02701          Housing & Works (Ground Rent Section)         165.000         160.000         160.000
                 Rent of Govt Buildings realized by H&W
C02701                                                           115.000           18.865                     -
                  Div
                    Building Rent (Met. Deptt) (Defence
C02701                                                               3.000            0.100            0.100
                     Division)
C02701            Building Rent (AGP)                               8.827            8.455            9.025
C02701            Building Rent of PAEC (Hostel Charges)          32.000           16.000           17.000
                    Collection of Payment for Services
C02705          Rendered (Met Deptt) (Defence                    0.200            0.200            0.200
                     Division)
C02706           Others - (Met. Deptt) (Defence Division)            0.050            0.800            0.800
                  Other Receipts of H&W Div (including
C02706                                                           160.500           14.375                     -
              GRS)
C02714           Recoveries of overpayments (AGP)                0.212                     -              0.105
                  Others - Construction Technology
C02716                                                             15.300           12.300           12.900                   Training Institute (CTTI)

                                                                                                                          contd….

Page 36

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
C027             Public Health
                 Sale proceeds of sera and vaccines
C02721                                                               6.650                     -                         -
              (NHSR&C)
                    Collection of payments for
C02725                                                             57.600           64.250           70.000
                   services rendered by NHSR&C

C027            Science Research and Survey

C02731          Survey of Pakistan (Defence Division)             35.000           35.000           40.000

                  Other - Met. Data Sale Charges, Lahore,
C02734                                                             35.500           17.076           17.076
                  Karachi
                  Total Community Services Receipts
C027                                                              1,903.739        1,315.421        1,338.671

4.5.9     Social Services Receipts
4.5.9.1   The receipts under this head are realized on account of fees charged from students of the
          educational institutions of various Ministries and Divisions. The entry fee for historical places
        and archeological sites is collected by National Heritage & Culture Division. The charges for
          medical  services  are  realized  by  the  Federal  Government  hospitals  and  health
          establishments. The estimates are given in the following table:

Page 37

                               TABLE 29
                                    Social Services Receipt

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                  Social Services
C02817           Receipts from Museums (Heritage Div)             0.290            0.290            0.350
C02817           Receipts from Museums (NMP Isbd)                              -            0.300            0.350
                  Education Fees from Schools &
C02818                                                           155.000         165.924         168.602
                  Colleges (MoFE&PT)
                  Education Fees from Schools and
C02818                                                           110.000           78.501           85.000
                  Colleges (Defence Div)
                  Education Others NDU (Cabinet
C02818                                                               0.005            0.005            0.005
                     Division)
                  Education Others NAP (Cabinet
C02818                                                               0.150            0.150            0.150                     Division)
C02824           Receipts from Libraries (NLPD)                    3.000            3.000            3.000
                 Health
C02855            Hospital Receipts-PIMS (MoNHSR&C)              6.000            6.000            6.790
                  Recoveries of Diet Charges -PIMS
C02856                                                               3.000            3.000            3.400
              (MoNHSR&C)
C02857        Rooms Rent -PIMS (MoNHSR&C)                 15.000           15.000           16.990
                  Govt. share fees realized by doctors
C02858                                                           160.000         160.000         181.180
                  from patient (PIMS)
C02845        NIRM (MoNHSR&C)                               8.000                        -                         -
C02855           Sale of outdoor Tickets                                                -            0.500            0.550
C02856           Recoveries of diet charges                                           -            0.400            0.450
C02857           Health Room Rent                                                       -            5.500            6.000
                Government share of fees realized by
C02858                                                                                0.040            0.045
                   doctors
                 Sale of Medicines and Vaccines
C02860                                                               7.500            3.500            5.000
              (MoNHSR&C)
                  Receipts of Health Establishments
C02875                                                             12.013           12.013           15.000
              (MoNHSR&C)
C028             Total Social Services                          479.958         454.123         492.862

Page 38

4.5.10    Social Services Misc Receipts
4.5.10.1  Under Social Services Miscellaneous Head, the Emigration Fee deposited by Pakistani
         workers working abroad in terms of Emigration Ordinance, 1979 is reflected. The receipts of
       OP&HR Division on account of registration of overseas employment agencies and deposits
         by individuals for protection of their visas are also collected under this head. The details are
          given in the following table:
                               TABLE 30
                               Social Services Miscellanenous Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                           Description
  Code                                            Budget       Revised       Budget
                  Social Services Miscelaneous
                    Registration and other fees Pakistanis
C02906                                                            1,100.000        1,100.000        1,150.000
                  working abroad (MoOP&HRD)
  C029           Total Social Services Miscelaneous          1,100.000        1,100.000        1,150.000
4.6      Miscellaneous Receipts
4.6.1     Miscellaneous  receipts comprise  of   (i) Economic  Services Receipts   (ii)  Extraordinary
          Receipts (iii) Others Receipts. A brief description of these receipts is given in the following
            table:
                               TABLE 31
                                     Miscellaneous Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                           Description
  Code                                            Budget       Revised       Budget
C03             Miscellaneous Receipts
                    Total Economic Services Receipts Food
C031                                                              1,215.900        1,203.850        1,204.600
             & Agriculture
C032              Total Economic Services Receipts-
                                                                   772.100         780.100         877.100                   Fisheries & Animal Husbandry
C035              Total Economic Services Receipts-
                                                                  32,797.050       63,183.716       70,645.400
                  Others
C036              Total Foreign Grants                           2,000.000        6,000.000        2,000.000
C037              Total Extraordinary Receipts                  37,600.488       29,614.024    1,066,502.968
C038               Total Passport and Visa Fees                 76,500.000       65,000.000       73,060.000
C038              Total Other Receipts                         109,008.568      151,730.935      165,883.065
C039                Total Receipts from Oil and Gas Sector       1,887,682.000    1,790,296.000    1,997,893.000
C03              Total Miscellaneous Receipts             2,147,576.106    2,107,808.625    3,378,066.133

Page 39

4.6.2     Economic Services Receipts
4.6.2.1   Economic Services Receipts comprise of Food & Agricultural, Fisheries & Animal Husbandry
        and Other receipts. A brief description of these receipts is given in the following paragraphs
        and related statistics are given in Tables 32-34:
4.6.2.2   Food and Agricultural Receipts are mainly realized on account of fee for plant protection
          services and fee associated with registration, enlisting and renewal of seed varieties by
          National Food Security and Research Division.
                               TABLE 32
                  Economic Services Receipts - (Food & Agriculture Receipts)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27                          Description
  Code                                            Budget       Revised       Budget
               Economic Services Receipts Food &
  C031
                  Agriculture
               Food Department (ICT)C03101                                                               1.200            1.600            2.000
C03116            Agriculture Receipts (ICT)                          0.500            0.500            0.500
C03123            Plant Protection services (MoNFS&R)           1,200.000        1,200.000        1,200.000
                  Receipts from soil conservation &
C03124                                                               0.700            0.550            0.600
                  Operations (ICT)
                    Registration fee-seed industry
C03138                                                               4.500                     -                         -               (MoNFS&R)
C03139             Enlisting fee-seed industry (MoNFS&R)             5.000                     -                         -

C03140          Renewal fee-seed industry (MoNFS&R)             2.500                     -                         -
                  Receipts  from  Plant  Breeders  Right
C03142                                                               1.500            1.200            1.500
               (MoNFS&R)
                  Total Economic Services Receipts
  C031                                                            1,215.900        1,203.850        1,204.600
              Food & Agriculture
4.6.2.3   Fisheries & Animal Husbandry Receipts are mainly realized on account of quarantine fee
        on animal exports/imports by National Food Security & Research Division.

Page 40

                               TABLE 33

                 Economic Services Receipts-(Fisheries & Animal Husbandry)

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
               Economic Services Receipts-
C032                  Fisheries & Animal Husbandry

C03201           Ordinary Receipts (ICT)                         200.000         200.000         305.000

                  Ordinary Receipts (Marine Fisheries
C03201                                                           250.000         250.000         260.000                   Deptt)
                  Receipts of Pakistan Maritime Security
C03205                                                               1.000                     -                         -                Agency (Defence Div)

C03227           Insemination Fees (ICT)                            0.100            0.100            0.100

                  Others-Receipts of Animal Quarantine
C03231                                                           300.000         300.000         280.000                  Deptt (MoNFS&R)
                Husbadry Graduates Students, Faculty
                    Registration, Inspection Fee                      21.000           30.000           32.000C03231
               (MoNFS&R)-

                  Total Economic Services Receipts-
C032                                                             772.100         780.100         877.100                  Fisheries & Animal Husbandry

4.6.2.4   Receipts from Explosive Department  pertain to the fee charged by the Department of
          Explosives for granting licenses to the firms dealing in explosives. The receipts of Explosive
         Department are charged for industrial safety.
4.6.2.5   Receipts from Lighthouses and Lightships comprise of :-

            (i) Examination fee, survey and registration fees realized by the Mercantile Marine Department,
          Karachi,
            (ii) Cargo shipping and discharging fees from the shipping companies,

           (iii) Fines realized from seamen for offences committed by them,

        (iv) Fees realized from cadets under  training  in the Mercantile Marine Academy, Karachi,
         Seamen's Training Centre, Karachi and,
        (v) Lighthouse dues realized from the shipping companies operating on the coasts of Pakistan.
        These receipts are shown under transportation and communication heads.
4.6.2.6   Receipts from Post Office mail operation pertain to services charges against the domestic
        and international mail services.These not only inlude the delivery of ordinary letters and
          parcels but also value added services  like Express Mail Service(EMS) and Cash on
         Delvery(COD).

Page 41

4.6.2.7   Receipts from NEV Adoption Levy is collected through Federal Board of Revnue (FBR). A
          levy on first sale of locally manufactured and imported (weather old or new) two and three
         wheeler internal combustion engine vehicles @1%,four wheelers up to 1300 CC-1800 CC
      @3% and buses & trucks @1% could result in additional estimated revenue of Rs.122 billion
            for the policy period.

                               TABLE 34
                           Economic Services Receipts-Others

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget

C035           Economic Services Receipts- Others

                Lease Extension Bonus (Petroleum
C03505                                                            5,000.000                     -            100.000
                     Division)
                 Wellhead Value Receipts & License
C0350E                                                            1,250.000       30,087.000       33,585.000                 Rent (Petroleum Division)
C0350D       NEV Adoption Levy (M I & P)                  10,000.000       20,000.000       22,481.000
                      Industrial Safety- Explosives Department
C03506                                                           950.000         750.000         950.000
                  (Petroleum Division)
                 Sale of other Government Publications
C03512                                                               0.750            0.750            0.800
                 (UDB), (Heritage Div)
C03518           Cost of tender documents(PAEC)                  1.500            2.000            2.000
                  Excise Duty on Minerals under
C03545                                                               0.800            3.000            3.500
                   Partnership Act (ICT)
                 Survey Fees-Mercantile Marine
C03560                                                             42.000           34.000           50.000
                 Department Karachi (MMD)
                Fees for the Registration of Vessels
C03562                                                               1.000            0.050            0.100
               (MMD)

                Fees for the Engagement and
C03561                                                             13.000           13.000           20.000
                  Discharges - Seamen's (GSO,Karachi)

C03565            Registration and other Fees (MMD)               10.000            6.000           10.000
C03567           Others Fees (MMD)                              20.000           29.000           35.000
C03565            Registration and other Fees (PMA)                 8.000            6.500            8.000
                  Lighthouses & Lightships Deptt,Karachi
C03571                                                            2,500.000         752.416        1,400.000               (MMD)
C03581           Post Office Mail Operation                      7,800.000        7,322.000        7,709.000
C03582           Others (Post Office Receipts)                    420.000         285.000         304.000
C03586         Commision on Money Transfer                  333.000         270.000         290.000
                 Net Receipts from Other Postal
C03587                                                           900.000         900.000         900.000
                   Administrations
C03588         Agency Receipts                               3,547.000        2,723.000        2,797.000
                  Total Economic Services Receipts-
C035                                                            32,797.050       63,183.716       70,645.400
                Others

Page 42

                               TABLE 35
                                         Foreign Grants
                                                                                                                                   (Rs. In Million)
Object                            Description                 2025-26        2025-26        2026-27
Code                                               Budget       Revised       Budget
C036            Foreign Grants
                  Foreign Grants - Development Grants
C03601                                                            2,000.000        6,000.000        2,000.000                  from Foreign Governments
C036             Total Foreign Grants                          2,000.000        6,000.000        2,000.000
4.6.3     Extraordinary Receipts
4.6.3.1   These receipts are realized by different Ministries, Divisions and Departments. The brief
           introduction of the main regular receipts under these heads are given as under with a
           relevant statistics in Tables 36
4.6.3.2   Kartarpur Corridor service charges are collected from Pilgrims in lieu of services.
4.6.3.3   National  Database  and  Registration  Authority  (NADRA)   is  responsible  for  the
         development and establishment of an improved and modernized system of registration in the
          country through appropriate means including technologically advanced,effective and efficient
        means  like computerization,automation,creation  of data base and related  facilities and
           services.It charges fee for providing services to the public. NADRA  is required to remit any
          surplus receipt over the actual expenditure in a year after payment of tax.
4.6.3.4   Pakistan Civil Aviation Authority (PCAA) is responsible for the regulation and control of
              civil aviation activities in the country. The authority is also responsible for the development of
           infrastructure for promotion of safe, efficient, adequate, economical and properly coordinated
              civil air transport service. The authority charges licensing fee, service charges etc. in lieu of
           provision of different services to the public.
4.6.3.5   The major portion of receipts comes from United Nations (UN) in lieu of services rendered
         by Pakistani troops taking part in various peace keeping operations worldwide.The other
           receipts are generated by various staff welfare initiatives and accreditation services.
4.6.3.6   The Budget Estimates & Revised Estimates for the FY 2025-26 and Budget Estimates for FY
         2026-27 are given in Table below.

Page 43

                               TABLE 36
                                       Extraordinary Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
C037             Extraordinary Receipts(A)                    6,400.488        4,914.024        5,902.968
                 Sale of Other Government Assets
C03706                                                               0.200            4.600            0.800                   (Federal Shariat Court)
C03707          Cost of ID/Penalities (PAEC)                       0.005            0.005            0.005
C03727          Recovery of Monetized Value (AGP)                0.005            8.419            0.163
C037             Grants/Receipts from Provivces (B)                         -                         -      1,035,000.000
                    Grants/receipts from Provinces under
C03731                                                                                                  -                         -         58,626.600
                      Article 164-Balochistan
                    Grants/receipts from Provinces under
C03732                                                                                                  -                         -        157,018.800
                      Article 164-KPK
                    Grants/receipts from Provinces under
C03733                                                                                                  -                         -        555,687.600
                      Article 164-Punjab
                    Grants/receipts from Provinces under
C03734                                                                                                  -                         -        263,667.000
                      Article 164-Sindh
               Fee collected by Staff Welfare
C03743                                                             65.000           64.000           65.000                   Organizations (Estab Division)
               Fee Collected by Pak. National
C03744            Accreditation Council (M/o Science &              35.000           37.000           37.000
                  Technology)
                  Service Charges from Indian Pilgrims
C03747           using Kartarpur (M/o Religious Affairs &          700.278                     -                         -
                      I.H)
C03761           Surplus Profit of NADRA                        4,800.000        4,800.000        5,000.000
                  Surplus Profit of Pakistan Civil Aviation
C03762                                                           800.000                     -            800.000
                    Authority
C037            Other Recipts (C)                            31,200.000       24,700.000       25,600.000
                   Others- Receipts from UN (Military)
C03725                                                          31,200.000       24,700.000       25,600.000
                 (Defence Division)
C037             Total Extraordinary Receipts(A+B+C)       37,600.488       29,614.024    1,066,502.968

4.6.4     Other Receipts
4.6.4.1   These receipts are realized by different Ministries, Divisions and Departments. The brief
           introduction of the main regular receipts under this head is given as under with a relevant
            statistics in Tables 37-38:

Page 44

                                        3838

4.6.4.2   Citizenship, Naturalization and Passport Fees,are realized mainly by the Immigration &
          Passport Offices in Pakistan and Pakistani Missions abroad on account of issuance, renewal
        and endorsement of passports and visas.
                               TABLE 37
                         Citizenship, Naturalization, Passport and Copyright Fees
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                           Description
  Code                                            Budget       Revised       Budget
                Passport and Visa Fees
C03806            Citizenship/Naturalization/Others               1,500.000        1,500.000         500.000
C03897           Passport and Visa Fee                         9,000.000        7,000.000         500.000
C0380G          Passport Fee Collection                       56,000.000       50,000.000       65,500.000
C0380H          Visa Fee Collection                           10,000.000        6,500.000        6,560.000
C038                Total Passport and Visa Fees                  76,500.000       65,000.000       73,060.000
4.6.4.3   Royalty, Pollution and Tracking Fees From Tourists is charged from the tourists coming
           to Pakistan for climbing the mountain peaks.
4.6.4.4   Receipts from Tourism Department is include Licenses Fee of Hotels, Restaurants and
          Travel Agencies, Registration Fee of Hotels and Restaurants, Licenses Renewal fee of
           Hotels, Restaurants and Travel Agencies and the Fines/Late fee of Hotels, Restaurants and
          Travel Agencies within Capital Territory by Ministry of Interior.
4.6.4.5   Receipts Collected by Ministry of Foreign Affairs is  realized on the auction of vehicles,
          sale of used machinery and equipment, gains on exchange against the remittances made by
          the Government for the expenditure of the Pakistan's missions in various countries, recovery
           of overpayment made to the Government servants posted abroad and the deduction of
         income tax, GP Fund, Benevolent Fund, House Building and Motor Car Advances of the
         employees posted in various Pakistan's missions abroad.
4.6.4.6   Receipts from Special Communications Organization are  collected by the Special
         Communications Organization for providing telecommunication services in specific areas.
        The Special Communications Organization primarily operates in the Azad Kashmir and Gilgit-
           Baltistan.

Page 45

                                        3939

                               TABLE 38
                                         Details of Other Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 Other Receipts
C03801          Unclaimed Deposits (CAF) MOI                    4.760           37.305           13.936
C03802          Sale of Stores & Material (ICT)                    52.369           87.540           66.262
C03802          Sale of Stores & Material (NHMP)                 45.000         398.791           30.000
                 Sale of stores Materials(Met Deptt)
C03802                                                               0.400                     -                         -
                 (Defence Division)
C03802          Sale of stores & Materials(PNRA)                              -             17.329                     -
C03802          Sale of Stores & Material (PAEC)                119.000           35.000           40.000
C03802          Sale of Stores & Material (AGPR)                   0.300                     -                         -
C03802          Sale of Stores & Material (CGA)                    0.350            0.200            0.300
C03802          Sale of Stores and Material (MoFA)               20.000           20.000           20.000
                 Sale publicity material & rent of
C03802                                                               0.250            0.160            0.160
                 documentaries (MOIB)
C03802          Sale of Stores and Material (AGP)                  0.112            0.067            0.159
C03802          Sale of Store and Material (ASF) (MOD)            7.300            2.699            6.872
C03805           Rent, Rates & Taxes (AHK & NCRD)               5.000            5.000            5.000
C03805           Rent, Rates & Taxes (Auqaf) - ICT                  1.150            1.150            1.200
C03805           Rent, Rates & Taxes (AGPR)                       0.060                     -                         -
C03805           Rent, Rates & Taxes (CGA)                        0.560            0.552            0.602
C03805           Rent, Rates & Taxes (AGP)                        0.453            0.339            0.284
                 Rent , Rates and Taxes (Met
C03805                                                               0.850            1.824            1.824
                 Department) (Defence Div)
C03805           Rent,Rates and Taxes (PIMS)                   130.000         130.000         147.210
                                                                                                                          contd….

Page 46

                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27                          Description
  Code                                            Budget       Revised       Budget

                    Citizenship/Naturalization/Others
C03806                                                               5.000            5.000            6.000                   /Domicile Fee(ICT)
                   Realizations under the Monopolies &
C03807            Restrictive (Competetion Commission of         200.000        1,032.790         300.000
                   Pakistan)
                  Receipts under the Mines-Oilfields and
C03808           Mineral Development Act (Petroleum          15,000.000         450.000         100.000
                     Division)
                  Receipts under Abandoned Properties
C0380B                                                           500.000         500.000                     -                  Act 1975
                  Consular Receipts of Foreign Affairs
C0380D                                                           350.000        1,000.000        1,000.000
                (MoFA)
                  License/Lease Rent Receipts
C0380L                                                           850.000         850.000         850.000
                  (Petroleum Division)
                  Other Receipts - Gains by Exchange on
C03812                                                           150.000         150.000         150.000
                 Remittance Abroad (MoFA)

               Fee for Registration societies under theC03818                                                               2.500           10.000           13.000
              Reg Act( MoID)
                  Receipts of Tourist Department (IPC
C03821                                                             50.000           48.000           50.000                    Div)

C03824          Recovery of Overpayments (MoFA)               45.000           45.000           45.000
                  Recoveries of Overpayment (ASF)
C03824                                                                                                  -              8.500            1.000
                 (Defence Division)
C03824           Recoveries of Overpayment (CGA).                1.817            1.110            0.480

C03824           Recoveries of Overpayment (AGP).                 5.962            0.902            0.516

C03825         Payment for services Rendered (ICT)             10.000           10.000           15.000
                    Collection of Payment for services
C03825                                                               0.160                     -                         -
                Rendered (CGA)
                    Collection of Payment for services
C03825                                                               0.160                     -                         -
                Rendered (AGPR)
                    Collection of Payment for Service
C03825           Rendered,Helicopter Charges (Cabinet             1.000            2.300            1.000
                     Division)

C03829           Fees, Fines & Forfeitures (PAEC)                  1.000            1.000            1.000
                  Other Receipts Fees, Fines and
C03829            Forfeitures (M/o Religious Affairs & I.H)           12.000            1.500            3.000

                                                                                                contd….

Page 47

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                  Other Receipts Fees, Fines and
C03829                                                                                                  -              3.000            4.000
                    Forfeitures (ICT)
C03835         Arms License Fee (D.C ICT)                     125.000         125.000         130.000
                     Airport Entry/ Tender Fees, Fines (ASF)
C03841                                                               3.850            4.140            4.078
                 (Defence Division)
C03841          Tender Fees / Misc Receipts (CGA)                0.030            0.030            0.030
                 Sale Proceed of Darbar, Toshakhana
C03843                                                             10.000                     -                         -
                   (Cabinet Division)

C03849           Contractor Penalty (ASF) (Defence Div)            0.050            4.186            0.050

                 Recovery of National Accountability
C03850                                                             50.000           50.000           50.000
                Bureau (NAB)
C03853          Sale of Publications (PPARC)                      0.500            0.200            0.500
                EIA Review Fee(Pak. Environmental
C03855                                                               2.100            1.000            1.000
                    Protection Agency)
C03870           Others (PAEC)                                   47.000           27.995           34.995

                  Others-Sales of Jinnah Papers ,Quaid-e-
C03870                                                               0.100            0.100            0.100              Azam Papers Wing (Heritage Division)

                   Others-National Language Promotion
C03870                                                               1.900            1.900            1.950
                  Deptt (Heritage Division)
                  Others-Sale of Books (Jinnah Papers-
C03870                                                               0.300            0.200            0.300
                QAA), (Heritage Division)
C03870           Other Receipts of (MoFA)                       580.000         580.000         580.000
C03870           Others (CGA)                                      4.105           11.830           12.500
                  Miscellaneous Receipts of attached
C03870                                                          84,000.000      139,461.449      155,582.852                 Departments

C03870          Others-GSP2 (Petroleum Division)                 4.500            4.500            4.500
C03870           Others (AGPR)                                    0.080                        -                         -
C03870           Others (AGP)                                      0.540            0.157            0.205

C03870           Others-Hostel Room Rent (M/oFE&PT)             1.000            1.690            1.700

                Income from Swing Pool, Ground Hall
C03870         and Membership Fee, (Hostel & Others)           95.000           95.000         100.000
                IPC Div.
                  Receipts of Special Communications
C03893                                                            6,500.000        6,500.000        6,500.000                   Organization
C03895           Film Censorship Fee (Mo I & B)                   10.000            4.500            4.500

C038               Total Other Receipts                          109,008.568      151,730.935      165,883.065

Page 48

4.6.5     Receipts from Oil and Gas Sector
4.6.5.1   The receipts from Oil and Gas sector are realized on account of Levies, Development
         Surcharges and Royality on Oil and Gas. Brief introduction of these receipts are given as
         under and related statistics are given Table 39:

4.6.5.2   Petroleum Levy

4.6.5.2.1  Petroleum Products (Petroleum Levy) Ordinance, 1961 amended from time to time, provides
          imposition of Petroleum Levy. Ex-refinery/import price of  oil is added with Inland Freight
          Equalization Margin (IFEM),  Oil Marketing Companies (OMCs)  distribution margin and
           dealer's commission as fixed by Government of Pakistan in Rs.per liter. On this accumulated
           price of oil, Petroleum Levy is fixed by Government of Pakistan in Rs.per liter from time to
           time.
4.6.5.3   Natural Gas Development Surcharge
4.6.5.3.1 As per Natural Gas Development Surcharge Ordinance,1967, every company as mentioned
            in the Schedule shall collect and pay to the Federal Government a development surcharge
          equal to the differential margin i.e the amount by which the fixed sale price exceeds the
          prescribed price, in respect of natural gas sold by it.

4.6.5.4   Royalty on Oil and Gas

4.6.5.4.1  According to Article 161(1)(a) of the Constitution of Islamic Republic of Pakistan, the royalty
           collected by the Federal Government shall not form part of the Federal Consolidated Fund
        and shall be paid to the provinces in which the well-head of natural gas is situated. As per
          clause 5 of 7th National Finance Commission Award notified vide President's Order No.5 of
         2010, each of the provinces shall be paid in each financial year as a share in the net
         proceeds of the total royalties on crude oil an amount which bears to the total net proceeds in
          the same proportion as the production of crude oil in the province in that year bears to the
            total production of crude oil.
4.6.5.4.2  Petroleum Exploration & Production Policy 2012 approved by Ministry of Petroleum & Natural
         Resources Government of Pakistan imposes Royalty on exploration and production of oil and
          gas. Clause 4.1 of Section II of the said policy provides that royalty will be payable at the rate
           of 12.5% of the value of petroleum at the field gate. The royalty will be paid by the Federal
         Government to Provinces to the extent of their share of liquid and gaseous hydrocarbons
          (such as LPG, NGL, Solvent oil, gasoline and others) as well as all substances including
           sulphur, produced in association with such hydrocarbon. The lease rent paid during the year
           shall not be deductible from the royalty payment. A 10% of the royalty will be utilized in the
             district where oil and gas is produced for infrastructure development.

Page 49

4.6.5.5   Discount on Local Crude Oil

4.6.5.5.1 Crude Oil and Natural Gas is explored/extracted by the Exploration and Production (E&P)
        Companies working under "Petroleum Concession Agreement (PCA)". E&P companies sell
          the crude oil to refineries at the rate prevailing in the international market based on the
          formula as per PCA. Under various agreements, E&P companies agree to sell the crude oil to
           refineries at different discounted rate on attainment of certain milestones as per PCA. The
        amount of discount is retained by the refineries while making payment of crude oil to E&P
         companies and deposited in Government head of account.

4.6.5.6   Windfall Levy on Crude Oil & Natural Gas
4.6.5.6.1 As per Petroleum Exploration & Production Policy 2012, Windfall Levy (WLO)  will be
           applicable on crude oil and condensate using the formula i.e WLO = 0.4 x (M-R) x (P-B)
         Where: WLO = Windfall Levy on crude oil and condensate; M = Net production (petroleum
         produced & saved); R = Royalty; P = Market Price of crude oil and condensate; and B = Base
           Price. All the benefit of windfall levy may be equally divided between the Federal Government
         and Provincial Government concerned.
4.6.5.7   Gas Infrastructure Development Cess (GIDC)

4.6.5.7.1 Gas Infrastructure Development Cess Act 2015 provides legal framework to levy and collect
          the Cess from gas consumers other than the domestic sector consumers at the rates as
          provided in the Second Schedule to this Act. The gas company shall be responsible for billing
            of cess to gas consumers, its collection and its onward payment to Federal Government in
          the manner as prescribed by the Federal Government. As per Section 4 of the Act, the cess
            shall be  utilized by the Federal Government  for  or  in connection  with  infrastructure
         development  of  Iran Pakistan Pipeline  Project, Turkmenistan-Afghanistan-Pakistan-India
          (TAPI) Pipeline Project, and LNG or other ancillary projects.

4.6.5.7.2 The major billing companies are: (1) Sui Northern Gas Pipelines Limited, (2) Sui Southern
        Gas Company Limited, (3) Mari Petroleum Company Limited (formerly Mari Gas Company
           Limited),(4) Pakistan Petroleum Limited, (5) Tullow Pakistan Development Limited, (6) Oil
         and Gas Development Company Limited. Rates of Cess (Rs./MMBTU) are Rs. 300 for
             Fertilizer Feed, Rs. 200 for Captive Power, Rs. 100 for Industry, Rs. 100 for KESC/GENCO,
          Rs. 100 for IPPs, Rs.263 for CNG Region-I and Rs. 200 for CNG Region-1
4.6.5.8   Climate Support Levy

4.6.5.8.1  Climate Support Levy  is  also imposed under  Section 3  of  the Petroleum Products
          (Petroleume Levy and Climate Support Levy) Ordinance, 1961 amended from time to time
         and applied per litre on petroleum products with effect from 1st July 2025 and collected in a
         manner similar to the Petroleum Levy.

Page 50

4.6.5.9   Captive Power Plants Levy
4.6.5.9.1 The Captive Power Plant Levy Act,2025 and the framework approved by the Fedrral Cabinet
          allows both SNGPL and SSGSL  to recover the  notified levy through  their respective
         subsequent gas bills issued after the notification of rates.Thereafter,the amounts collected
        and deposited are reconciled accordingly. The collection of levy amount is subject to change
         depending on monthly gas consumption by the captive consumers.
4.6.5.9.2 Under CPP Levy Act,2025,the 10% levy to be implemented by July,2025,15% by Feb 2026
        and 20% by Aug 2026.Captive Power Gas consumption before levy imposition was upto 350
        MMCFD,post levy the gas consumption declined to around 120 MMCFD overall.The non-
          realized/un-recovered amount  is due to  litigation cases, disconnected and non-payment
         consumers.

                               TABLE 39
                                 Receipts from Oil and Gas Sector
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27                          Description
  Code                                            Budget       Revised       Budget
                 Receipts from Oil and Gas Sector
C03901          Petroleum Development Levy               1,468,395.000    1,498,000.000     1,676,509.000
C03902           Natural Gas Development Surcharge           49,437.000      63,000.000       70,814.000
C03905           Royalty on Oil                                 69,000.000      40,000.000        45,504.000
C03906           Royalty on Gas                               138,000.000      85,000.000        95,000.000
C03910           Discount Retained on Local Crude Price        30,000.000      19,488.000        20,500.000
C03915            Windfall Levy against Crude Oil                20,000.000      16,106.000        17,000.000
C03916         Gas Infrastructure Development Cess           2,400.000       2,000.000         2,248.000
C03917          Petroleum Levy on LPG                         5,000.000       3,463.000         3,455.000
C03919            Windfall Levy on Gas                            450.000       1,239.000         1,127.000
C03920            Off the Grid (Captive Power Plants) Levy      105,000.000      14,000.000        15,736.000
C03924           Climate Support Levy                                                     -      48,000.000        50,000.000
                  Total Receipts from Oil and Gas
C039                                                           1,887,682.000    1,790,296.000    1,997,893.000
                 Sector

Page 51

                           CHAPTER 5

               ROVINCIAL SHARE IN REVENUE RECEIPTS
              5.1 The provincial share of revenues from the divisible pool taxes, straight transfers etc.
                      is governed in accordance with the provisions of 7th National Finance Commission
              Award notified vide President's Order No.5 of 2010 issued on 10th May, 2010, which
                      is reproduced as under:

                        PRESIDENT'S ORDER NO.5 OF 2010
                                AN
                             ORDER

                         to provide for distribution of revenues and certain grants

     WHEREAS in pursuance of clause (1) of Article 160 of the Constitution of the Islamic Republic
of Pakistan (hereinafter referred to as the Constitution), the President, by the Finance Division's
Notification No.S.R.O. 739(I)/2005 dated 21st July, 2005, as modified by the said Division's Notification
No.S.R.O.693(I)/2009, dated 24th July, 2009, appointed a National Finance Commission to make
recommendations, among other matters, as  to the  distribution between the Federation and the
Provinces of the net proceeds of certain taxes;

      AND WHEREAS the said Commission has also submitted its recommendations with regard to
the said distribution;
      NOW, THEREFORE, in pursuance of clauses (4) and (7) of Article 160 of the Constitution, the
President is pleased to make the following Order:-
          1.  Short  title and commencement: (1) This Order may be called the Distribution  of
Revenues and Grant-in-Aid Order, 2010.(2) It shall come into force on the first day of July, 2010.

          2.  Definitions:  In this Order, unless there is anything repugnant in the subject or context.

          (a) "Net Proceeds" means, in relation to any tax, duty or levy, the proceeds thereof
            reduced by the cost of collection as ascertained and certified by the Auditor
            General of Pakistan, and
          (b) "taxes on income" includes corporation tax but does not include taxes on
           income consisting of remuneration paid out of the Federal Consolidated Fund.

           3.  Distribution of Revenues.

              The divisible pool taxes in each year shall consist of the following taxes levied and
              (1)
                   collected by the Federal Government in that year, namely:-
                (a) taxes on income;

                (b) wealth tax;
                 (c) capital value tax;
                (d) taxes on sales & purchases of goods imported, exported, produced,
                manufactured or consumed;

Page 52

                (e) export duties on cotton;

                     (f) customs duties;
                (g) federal excise duties excluding the excise duty on gas charged at well-head; and
                (h) fany other tax which may be levied by the Federal Government.
             One percent of the net proceeds of divisible taxes shall be assignedto Government of
            (2)
                  the Khyber Pakhtunkhwa to meet the expenses on War on Terror.
           (3)       After deducting the amount as prescribed in clause (2), of the balance amount of the
net proceeds of divisible pool taxes, fifty six percent shall be assigned to the provinces during the
financial year 2010-11 and fifty seven and a half percent from the financial year 2011-12 onwards. The
share of the Federal Government in the net proceeds of the divisible pool shall be forty-four percent
during the financial year 2010-11 and forty -two and half percent from the financial year 2011-12
onwards.
            4.  Allocation of shares to the Provincial Governments. (1) The Province -wise ratios
given in clause (2) are based on multiple indicators. The indicators and their respective weights as
agreed upon are:-
           (a) Population                                82.00%
           (b) Poverty or backwardness                    10.30%
           (c) Revenue collection or generation               5.00%
           (d) Inverse population density                    2.70%

              (2)  The sum assign to the Provincial Governments under Article 3 shall be distributed
           (a) Balochistan                                9.09%
           (b) Khyber Pakhtunkhwa                       14.62%
           (c) Punjab                                  51.74%
           (d) Sindh                                   24.55%
             Total:                                   100.00%

              (3) The Federal Government shall guarantee that Balochistan Province shall receive the
projected sum of eighty-three billion rupees from the provincial share in the net proceeds of divisible
pool taxes in the first year of the Award. Any shortfall in this amount shall be made up by the Federal
Government from  its own  resources. This arrangement  for  Balochistan  shall remain  protected
throughout the remaining four years of the Award based on annual budgetary projections.

               5.  Payment of net proceeds of royalty on crude oil : Each of the Provinces shall be
paid in each financial year as a share in the net proceeds of the total royalties on crude oil an amount
which bears to the total net proceeds the same proportion as the production of crude oil in the Province
in that year bears to the total production of crude oil.

               6.  Payment of net proceeds of development surcharge on natural gas to the
provinces :  (1) Each of the Provinces shall be paid in each financial year as a share in net proceeds
to be worked out based on average rate per MMBTU of the respective province.  The average rate per
MMBTU shall be derived by notionally clubbing both the royalty on Natural Gas and Development
Surcharge on Gas. Royalty on natural gas shall be distributed in accordance with clause (1) of Article
161 of the Constitution whereas the development surcharge on natural gas would be disrtributed by
making adjustments based on this average rate.

Page 53

              (2)  The development surcharge on natural gas for Balochistan with effect from Ist July,
2002 shall be reworked out hypothetically on the basis of formula given in clause (1) and the amount,
subject to maximum of ten billion rupees, shall be paid in five equal installments by the Federal
Government as grants to be charged on the Federal Consolidated Fund.
              7.   Grants-in-Aid  to the Provinces: There  shall be charged upon  the  Federal
Consolidated Fund each year, as grants-in-aid of the revenues of the province of Sindh an amount
equivalent to 0.66% of the provincial share in the net proceeds of divisible pool as a compensation for
the losses on account of abolition of octroi and zila tax.
              8. Sales Tax on services: NFC recognizes that sales tax on services is a Provincial
subject under the Constitution of the Islamic Republic of Pakistan, and may be collected by respective
Provinces, if they so desired.

              9. Miscellaneous: (1) NFC also recommended increase in the rate of excise duty on
natural gas to Rs. 10.0 per MMBTU. Federal Government may initiate necessary legislation accordingly.

              (2) The NFC recommended that the Federal Government and Provincial Governments
should streamline their tax collection systems to reduce leakages and increase their revenues through
efforts to improve taxation in order to achieve a 15% tax to GDP ratio by the terminal year i.e. 2014-15.
Provinces would  initiate steps  to  effectively tax the  agriculture and  real estate  sector. Federal
Government and Provincial Governments may take necessary administrative and legislative steps
accordingly.

                (3)  Federal Government and Provincial Governments would develop and enforce
mechanism for maintaining fiscal discipline at the Federal and Provincial levels through legislative and
administrative measures.
               (4) The Federal Government may assist the Provinces through specific grants in times of
unforeseen calamities.

                (5) The meetings of the NFC may be convened regularly on a quarterly basis to monitor
implementation of the award in letter and spirit.
             10. Repeal.- The Distribution of Revenues and Grant-in-Aid Order, 1997 (P.O.No.1 of
1997), and the Distribution of Revenues and Grants-in-Aid, Order, 2010. (P.O. 4 of 2010) are hereby
repealed.

                                                                  ASIF ALI ZARDARI
                                                                                         President

Page 54

              5.2 Distribution of Revenues and Grants-in-Aid Order, 2010 (President's Order No. 5 of
                2010) was  slightly amended through President's Order No.6 of 2015, which  is
                reproduced as under;

                     PRESIDENT'S ORDER NO.6 OF 2015
                                AN
                             ORDER
 To amend Distribution of Revenues and Grants-in-Aid Order, 2010 (President's Order No.5 of 2010)
        Whereas it is expedient to amend the Distribution of Revenues and Grants-in-Aid Order, 2010
(P.O. No. 5 of 2010) for the purpose hereinafter appearing.
       Now therefore in pursuance of clause (6) read with clause (7) of Article 16 of the Constitution
of the Islamic Republic of Pakistan, the President is pleased to make the following Order:-
           1.    Short  title and commencement: (1)This Order may be called the Distribution of
Revenues and Grants-in-Aid (Amendment) Order 2015.
                  (2)        It shall come into force on the first day of July 2015.
                  (3)        It will remain in force till further orders.
           2.    Substitution of Article-4(3) P.O No.5 of 2010: In the Distribution of Revenues and
Grants-in-Aid Order, 2010 (P.O. No. 5 of 2010) for Article 4(3) the following shall be substituted;
           3.    The Federal Government shall guarantee that Balochistan Province shall receive the
projected sum of eighty-three billion rupees from the provincial share in the net proceeds of divisible
pool taxes in the first year of the Award and any shortfall in this amount shall be made up by the Federal
Government from  its own  resources. This arrangement  for  Balochistan  shall remain  protected
throughout Award period based on annual budgetary projections.

                                              MAMNOON HUSSAIN
                                                                                 President

Page 55

      5.3 The following table shows the estimated transfers to the provincial governments on account
           of their share in Federal Taxes and by straight transfers during FY2025-26 and FY2026-27:
                               TABLE 40
                                  Provincial Share in Revenue Receipts
                                        2025-26 (Budget)
                                                                                                                                   (Rs. In Million)
  Object                                    Khyber
               Description     Balochistan                     Punjab          Sindh            Total
  Code                                 Pakhtunkhwa
        (A) Divisible Taxes      713,621.874   1,285,673.211    4,061,913.724    1,927,328.603      7,988,537.412
B01108    Taxes on Income     345,397.646      622,274.23    1,965,992.759      932,839.626    3,866,504.258
B01809     Capital Value Tax         880.701       1,586.686        5,012.923        2,378.571        9,858.881
B02303
           Sales Tax excl. GST
B02382                         242,699.328     437,251.205    1,381,437.100      655,475.083    2,716,862.716
          on services
B02383
B02408     Federal Excise (Net
                                 44,945.978      80,975.433      255,831.124      121,388.753      503,141.288
B02503     of Gas)
B02170    Customs Duties        79,698.221     143,585.660      453,639.818      215,246.570      892,170.269
        (B) Straight Transfers     29,543.974      57,114.649       14,094.018      116,432.998      217,185.639
         Gas Development
C03904                            5,653.534       7,358.089        1,810.698       22,417.678       37,239.999
           Surcharge
            Royalty on Crude
C03907                            637.000      25,544.680        9,383.500       21,274.820       56,840.000
              Oil
            Royalty on Natural
C03908                          21,489.440      22,419.460        2,587.200       66,203.900      112,700.000
         Gas
           Excise Duty on
B03044                            1,764.000       1,792.420         312.620        6,536.600       10,405.640
            Natural Gas
            Total (A+B)          743,165.848   1,342,787.860    4,076,007.742    2,043,761.601    8,205,723.051

Page 56

                               TABLE 41
                                  Provincial Share in Revenue Receipts
                                        2025-26 (Revised)
                                                                                                                                   (Rs. In Million)
  Object                                    Khyber
               Description     Balochistan                     Punjab          Sindh            Total
  Code                                 Pakhtunkhwa
        (A) Divisible Taxes      713,621.874   1,181,892.866    3,734,033.506    1,771,753.432    7,401,301.678
B01108    Taxes on Income     345,397.646     578,443.511    1,827,515.433      867,133.820    3,618,490.410
B01809     Capital Value Tax         880.701       1,809.479        5,716.809        2,712.556       11,119.545
B02303           Sales Tax excl. GST
B02382                         242,699.328     398,390.415    1,258,661.592      597,219.600    2,496,970.935          on services
B02383
B02408     Federal Excise (Net
                                 44,945.978      77,978.339      246,362.204      116,895.866      486,182.387
B02503     of Gas)
B02170    Customs Duties        79,698.221     125,271.122      395,777.468      187,791.590      788,538.401

        (B) Straight Transfers     22,297.199      49,866.243       11,027.966      107,303.934      190,495.342
         Gas Development
C03904                            5,780.279      13,625.843        2,701.886       39,631.994       61,740.002
           Surcharge
            Royalty on Crude
C03907                            517.440      16,843.260        6,148.520       15,690.780       39,200.000
              Oil
            Royalty on NaturalC03908                          15,013.600      18,321.100        1,962.940       48,002.360       83,300.000
         Gas
           Excise Duty on
B03044                            985.880       1,076.040         214.620        3,978.800        6,255.340
            Natural Gas
            Total (A+B)          735,919.073   1,231,759.109    3,745,061.472    1,879,057.366    7,591,797.020

                                  TABLE 42
                                  Provincial Share in Revenue Receipts
                                        2026-27 (Budget)
                                                                                                                                   (Rs. In Million)
Object                                      Khyber               Description     Balochistan                     Punjab          Sindh            Total
Code                                   Pakhtunkhwa
        (A) Divisible Taxes      771,390.094   1,389,749.417    4,390,728.665    2,083,347.289    8,635,215.465
B01108    Taxes on Income     379,336.684     683,419.374    2,159,172.726    1,024,501.168    4,246,429.952
B01809     Capital Value Tax       1,361.674       2,453.217        7,750.612        3,677.571       15,243.074
B02303    Sales Tax excl. GST                                251,471.863     453,055.952    1,431,370.096      679,167.682    2,815,065.593
B02382    on services
B02408     Federal Excise (Net
                                 54,643.474      98,446.606      311,028.973      147,579.460      611,698.513
B02503     of Gas)
B02170    Customs Duties        84,576.399     152,374.268      481,406.258      228,421.408      946,778.333
        (B) Straight Transfers     23,743.440      53,596.627       12,105.011      123,832.321      213,277.399
         Gas DevelopmentC03904                            5,693.800      14,785.687        1,735.631       47,178.681       69,393.799
           Surcharge
            Royalty on CrudeC03907                            562.520      17,534.160        8,221.220       18,277.000       44,594.900
              Oil
            Royalty on Natural
C03908                          16,512.020      20,211.520        1,936.480       54,439.980       93,100.000
         Gas
           Excise Duty onB03044                            975.100       1,065.260         211.680        3,936.660        6,188.700
            Natural Gas
            Total (A+B)          795,133.534   1,443,346.044    4,402,833.676    2,207,179.610    8,848,492.864

Page 57

                           CHAPTER 6
                           CAPITAL RECEIPTS
6.1       Capital receipts comprise of Recoveries of Loans and Advances from Provinces and other
            entities and Public Debt which includes Permanent Debt and Floating Debt. External finances
        and un-funded debt (primarily made up of the various instruments available under the
          National Savings Schemes) also fall under the category of Capital Receipts, however, they
          are covered under separate chapters of this publication.
6.2      The following table indicates the position of  capital receipts  for 2025-26 (Budget and
         Revised) and 2026-27(Budget).
                               TABLE 43
                                            Capital Receipts
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                  Capital Receipts
                    (I)   Recoveries of Loans and Advances        603,000.000      749,547.000      426,308.690
E021                  Provinces                              584,000.000      584,000.000      407,308.690
E022-27           PSEs and Others                        19,000.000      165,547.000       19,000.000
                     (II)   Public Debt (Net)                          2,663,923.647    2,138,788.591    1,760,070.896
             (A)  Domestic Debt (Net)                       2,663,956.647    2,138,788.651    1,760,071.496
E031            Permanent Debt (Net)                      1,254,395.061      902,140.425      699,740.985
E032              Floating Debt (Net)                         1,409,561.586    1,236,648.226    1,060,330.511
E033        (B)   Foreign Currency Debt                           (33.000)            (0.060)            (0.600)

                  Total Capital Receipts (I+II)               3,266,923.647    2,888,335.591    2,186,379.586
6.3      Recovery of Loans and Advances
6.3.1    The recovery of principal amount of loans and advances from provinces, public sector
           enterprises, financial and non-financial institutions is reflected in this section.
6.3.2     The estimates of recoveries of loans and advances are given below:

Page 58

                               TABLE 44
                              Recovery of Loans and Advances
                                             (Provinces)

                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
E021            Province-Wise Break-up
                Punjab                                     116,376.253      115,817.057      121,185.468
E02102         Cash Loans                                    291.310           97.103                     -
E02102          Premature Retirement of Cash Loans                         -          1,186.150                     -
E02106           Foreign Loans                               116,084.943      114,533.804      121,185.468
                Sindh                                        43,975.891       43,367.452       46,371.502
E02101         Cash Loans                                    1,505.677        1,505.677        1,398.286
E02105           Foreign Loans                                42,470.214       41,861.775       44,973.216
               Khyber Pakhtunkhwa                        33,607.125       33,391.754       41,385.016
E02104         Cash Loans                                                               -                         -                         -
E0218            Foreign Loans                                33,607.125       33,391.754       41,385.016

                 Balochistan                                   9,522.864        9,261.811        9,217.116

E02103         Cash Loans                                      56.643           56.643           97.972
E02107           Foreign Loans                                  9,466.221        9,205.168        9,119.144
E021             Total (Recovery of Loans)                  203,482.133      201,838.074      218,159.102

                                  Loan-wise Break-up
                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
              Cash Loans                                   1,853.630        2,845.573        1,496.258
E02102          Punjab                                         291.310        1,283.253                     -
E02101          Sindh                                          1,505.677        1,505.677        1,398.286
E02104          Khyber Pakhtoonkhwa                                               -                         -                         -
E02103           Balochistan                                      56.643           56.643           97.972
                 Foreign Loans                              201,628.503      198,992.501      216,662.844
E02106          Punjab                                      116,084.943      114,533.804      121,185.468
E02105          Sindh                                         42,470.214       41,861.775       44,973.216

E02108          Khyber Pakhtoonkhwa                        33,607.125       33,391.754       41,385.016
E02107           Balochistan                                    9,466.221        9,205.168        9,119.144
                  Total (Recovery of Loans &
E021                                                           203,482.133      201,838.074      218,159.102
                Advances)

Page 59

                               TABLE 45
                              Recovery of Loans and Advances
                                            (Local Bodies)

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                 Local Bodies
E022           Cash Loans (A)                              22,694.551       22,635.813       28,278.465
              PTV                                             58.753                       -            58.753
                  Pakistan Machine Tool Factory                                    -                         -             8.437
            NHA                                          19,408.576      19,408.576        23,679.773
               PIAHCL                                         667.317        667.317         1,064.408
             PBC                                             92.200           92.200           94.947
                    Capital Development Authority                  171.062         171.062         183.036
                 Saindak Metal Ltd                              770.072         770.072         874.879
                     Printing Corporation of Pakistan                  20.577           20.592           21.955
                  Pakistan Steel Mills                            1,490.458        1,490.458        2,275.659
               Heavy Mechanical Complex                      15.536           15.536           16.618
E022            Foreign Loans (B)                          108,415.107      107,226.613      108,029.587
                  Karachi Port Trust                              1,436.791        1,387.246        1,436.791
            NHA                                          50,299.491      50,372.597        49,145.235
               GIK Institute                                       6.596            6.562            6.779

            SSGC                                             1.501            1.501            1.501

             SKMT                                           18.432           18.337           18.945

             NEPRA                                           1.501            1.501            1.501

            OGRA                                             1.245            1.245            1.245
             PAEC                                        56,649.550       55,437.624       57,417.590

E022             Total Local Bodies (A+B)                  131,109.658      129,862.426      136,308.052

                               TABLE 46
                              Recovery of Loans and Advances
                                          (Financial Institutions)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget

E023             Financial Institutions
                 Foreign Loans                                 627.635         627.635         627.635
                  Pakistan Mortage Refinance Co Ltd                                                                   627.635         627.635         627.635
               (PMRC)
E023             Total - Financial Institutions                   627.635         627.635         627.635

Page 60

                               TABLE 47
                              Recovery of Loans and Advances
                                     (Non-Financial Institutions)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                    (I)   Power Sector                                50,136.346       55,182.546       56,454.863
E024           Cash Loans (A)                                4,502.252        4,502.252        5,050.996
            WAPDA (power wing)                          2,934.073        2,934.073        3,231.602
            WAPDA (water wing)                           120.502         120.502         133.158
             TESCO                                            6.559            6.559            2.430
            QESCO                                        118.109         118.109         158.613
            MEPCO                                         29.135           29.135           32.908
              GENCO-I                                                                  -                         -             39.738
               GENCO-II                                      311.463         311.463         352.540
                GENCO-III                                     136.901         136.901         150.782
              GENCO-IV                                                                -                         -              7.611
             CPPA                                           40.100           40.100           40.100
             NJHP                                          757.070         757.070         845.734
             NTDC                                           48.340           48.340           55.780
E024            Foreign Loans (B)                           45,634.094       50,680.294       51,403.867
            WAPDA (power wing)                         11,885.431       17,195.369       17,194.175
                Jamshoro Power Company Ltd (JPCL)          7,176.993        6,934.912        7,176.993
             LESCO                                        253.559         253.559         254.931
            HESCO                                        302.807         302.807         311.734
            PESCO                                        331.942         329.511         358.647
            QESCO                                        514.762         514.762         514.762
            GEPCO                                        466.895         472.360         472.360
              IESCO                                         752.778         752.241        1,169.814
             FESCO                                        256.717         256.717         256.717
            MEPCO                                        426.286         426.286         427.810
             NTDC                                        10,204.849       10,180.695       10,204.849
             NJHP                                         13,035.379       13,035.379       13,035.379
            PEPCO                                          25.696           25.696           25.696
                     (II)  Autonomous Bodies/Corporations           4,828.761        4,824.219        4,404.411
E024            Foreign Loans                                 4,828.761        4,824.219        4,404.411
                  Pakistan Railways                              840.070         835.528         789.898
                  Karachi Fish Harbour Authority (KFHA)                      -                         -                         -
             PPAF                                          1,190.621        1,190.621         832.371
              TEVTA                                          31.856           31.856           15.928
            SUPARCO                                     2,510.210        2,510.210        2,510.210
            SCO                                           256.004         256.004         256.004

E024             Total Non-Financial Institutions (A+B)       54,965.107       60,006.765       60,859.274

Page 61

                                  TABLE 48
                              Recovery of Loans and Advances
                                (From Government Servants)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
E025           Government Servants
                   Cantt/Garrison Educational Institutions                        -            121.417         127.489
                    Office of the AGPR, Islamabad                                   -                         -                         -
            AGPR sub-office, Lahore                       2,543.124                     -                         -
            AGPR sub-office, Karachi                      1,415.646        1,436.478        1,580.124
            AGPR sub-office,Peshawr                       766.423         806.261         886.887
            AGPR sub-office, Quetta                        322.573         414.270         434.981
            AGPR sub-office, Gilgit                         591.878        1,078.562        1,294.274
                Defence                                                                    -          3,189.720        4,465.608
                      Military Accoumtant General,Rawalpindi          106.731         230.841         373.154
                  Pakistan Post Office Deptt                       344.457         310.011         341.012
            CAO (Ministry of Foreign Affairs)                 155.442         246.186         270.889
                  Pakistan Mint                                    17.250           26.232           24.887
                   Central Dte of National Savings                  189.292         233.932         184.722
                   Geological Survey of Pakistan                                    -                         -                         -
                   Special Communication Organization             15.052           17.258           18.993

                   National Tariff Commission                       25.611

               Supreme Court of Pakistan                                        -             59.764         144.209
E025             Total Government Servants                   6,493.479        8,170.932       10,147.229

                                  TABLE 49

                           Recovery of Loans and Advances (Others)
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
  E027          Others
                Recovery of Cash Loans (Others)           10,696.345       10,657.470       12,124.195
              Ways & Means Advances to Provinces,
                                                                  10,000.000       10,000.000       11,000.000
                  AJK/Special Areas

               Cash Loans- Govt of AJK                       696.345         657.470        1,124.195

               Cash Loans - PNRA                                                  -                         -                         -
                Recovery of Foreign Loans                   5,763.541        5,900.318        5,881.110
                  Foreign Loans-Govt of AJK                     5,162.539        5,264.531        5,247.440
                  Foreign Loans-Govt of Gilgit-Baltistan            601.002         635.787         633.670

  E027           Total - Others                                16,459.886       16,557.788       18,005.305

Page 62

                               TABLE 50
                     Summary of Recovery of Loans and Advances
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget

                  Total Recovery Cash Loans (PSEs)          44,386.627       45,966.467       55,600.885

                  Total Recovery Foreign Loans (PSEs
                                                                165,269.138      169,259.079      170,346.610
                          )
                  Total Recovery of Loan & Advances
E021                                                           203,482.133      201,838.074      218,159.102
                  (Provinces)

                 Recovery from Arrears Stock                 380,517.867      382,161.926      189,149.588

                Net Recovery of Loan & Advances
                                                                584,000.000      584,000.000      407,308.690
                  (Provinces)
E022               Total Local Bodies                          131,109.658      129,862.426      136,308.052
E023               Total Financial Institutions                      627.635         627.635         627.635
E024               Total Non-Financial Institutions                54,965.107       60,006.765       60,859.274

E025               Total Government Servants                     6,493.479        8,170.932       10,147.229
E027               Total - Others                                 16,459.886       16,557.788       18,005.305
                  Total Recovery of Loan & Advances
                                                                209,655.765      215,225.546      225,947.495
               (PSEs & Others )
                  Estimated Shortfall                          190,655.765       49,678.546      206,947.495
                Net Recovery of Loan & Advances
                                                                  19,000.000      165,547.000       19,000.000
               (PSEs & Others)
               Grand Total - Recovery of Loans           603,000.000      749,547.000      426,308.690
6.4       Public Debt
6.4.1      Public Debt of the Federal Government is classified into two categories:
      (i)    Domestic Debt, which includes Permanent Debt,Floating Debt and Unfunded Debt:and
      (ii)    Foreign Currency Debt, which includes long, medium and short term debt.
                               TABLE 51
                                          Public Debt (Net)

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
                  Public Debt (Net)
                Domestic Debt (Net)                      2,663,956.647    2,138,788.651    1,760,071.496
E031            Permanent Debt (Net)                      1,254,395.061      902,140.425      699,740.985

E032              Floating Debt (Net)                         1,409,561.586    1,236,648.226    1,060,330.511

E033            Foreign Currency Debt                           (33.000)            (0.060)            (0.600)
                  Total Public Debt (Net)                    2,663,923.647    2,138,788.591    1,760,070.896

Page 63

6.4.2    Domestic Debt (Permanent)
6.4.2.1   The main features of securities through which domestic debt (permanent) is raised are given
          below:
6.4.2.2   Pakistan Investment Bonds
          This security having maturity period of 2, 3, 5, 7, 10, 15, 20 and 30 years is in operation since
         2000. Against the budgeted receipt of Rs. 147,395.061 million for the year 2025-26,  the
          revised  estimates for the year 2025-26 have been worked out at Rs. 47,969.219 million
         whereas the budget estimates for the year 2026-27 are estimated at Rs. 386,240.985 million.
        Government Ijara Sukuk Bonds6.4.2.3
        The Government of Pakistan Ijara Sukuk Bonds are issued through Pakistan Domestic
        Sukuk Company Limited. The Sukuk are not redeemable before maturity. The profit on the
        Sukuk is payable bi-annually on rental rate to be announced by State Bank of Pakistan.
          Against the budget estimates of Rs. 1,100,000 million for the year 2025-26, the revised
          estimates have been projected at Rs. 1,593,606.047 million. The budget estimates for the
          year 2026-27 are estimated at Rs. 300,000.000 million.
6.4.2.4   The net receipts from domestic debt (permanent) during the year 2025-2026 (Budget &
         Revised) and 2026-2027 (Budget) are estimated as under:-
                               TABLE 52

                               Domestic Debt (Permanent)-Net

                                                                                                                                   (Rs. In Million)

  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
E031           Domestic Debt (Permanent)
                  Pakistan Investment Bonds (Non-Bank)      147,395.061       47,969.219      386,240.985

                Government Ijara Sukuk Bonds             1,100,000.000      843,606.047      300,000.000

               Premium Prize Bond (Registered)             10,000.000       12,000.000       15,000.000

                  Pakistan Banao Certificate (3 Years)                           -                         -                         -

                  Pakistan Banao Certificate (5 Years)            (3,000.000)       (1,434.841)       (1,500.000)

             FADRA                                                                     -                         -                         -
               ICBC (Foreign Currency Denominated
                                                                                                              -                         -                         -
                 Domestic Loan)
E031             Total Domestic Debt (Permanent)         1,254,395.061      902,140.425      699,740.985

6.4.3     Foreign Currency Debt

6.4.3.1      It includes the following securities:

6.4.3.2   Foreign Exchange Bearer Certificates (FEBCs)
         Budget estimates in case of repayment of Foreign Exchange Bearer Certificates for financial
          year 2025-26 were estimated at Rs. 1.000 million. Revised estimates for the year 2025-26
          are projected at Rs. 0.010 million whereas budget estimates for financial year 2026-27 have
        been kept at Rs. 0.100 million.

Page 64

6.4.3.2   Foreign Currency Bearer Certificates (FCBCs)

        Repayment on account of Foreign Currency Bearer Certificates in the budget estimates for
          the year 2025-26 was estimated at Rs. 1.000 million. Revised estimates for the year 2025-26
        and budget estimates for the year 2026-27 on account of repayment have been kept at
         Rs.0.010 million and Rs.0.100 million respectively. These certificates are in US$ and Pound
           Sterling. Profit is payable half yearly at floating rates which is not liable to income tax.
          Investment in these certificates is exempt from Wealth Tax and compulsory deduction of
          Zakat.

6.4.3.3  US Dollar Bearer Certificates (DBCs)
          This security was introduced in 1991 and discontinued on 17th November, 1994. Against the
         repayment of Rs. 1.000 million in the budget estimate 2025-26, revised estimates in 2025-
        26 and budget estimates for the year 2026-27 have been kept at Rs. 0.010 million and
         Rs.0.100 million respectively.

6.4.3.4   Special US Dollar Bonds
        These bonds were issued under Special US Dollar Bonds Rules, 1998 to the Foreign
         Currency Accounts holders or Foreign Currency Certificates holders with scheduled banks or
         non-bank financial institutions out of their foreign currency deposits. Against the repayment of
         Rs. 30.000 million provided in budget estimates 2025-26, the repayment on account of these
         bonds  in revised estimates  2025-26 has been estimated at Rs.0.030  million and the
         repayment of budget estimates for the year 2026-27 are estimated at Rs.0.300 million. The
          estimates of foreign currency debt (permanent) are tabulated below:-

                               TABLE 53

                              Foreign Currency Debt(Permanent)- Net

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget

                 Foreign Currency Debt (Permanent)

                  Foreign Exchange Bearer Certificates
                                                                     (1.000)          (0.010)          (0.100)
                (FEBCs)

                  Foreign Currency Bearer Certificates
                                                                     (1.000)          (0.010)          (0.100)
                (FCBCs)

             US Dollar Bearer Certificates (DBCs)              (1.000)          (0.010)          (0.100)

                   Special US Dollar Bonds                        (30.000)          (0.030)          (0.300)
                  Total Foreign Currency Debt
   E033                                                           (33.000)          (0.060)          (0.600)
                 (Permanent)

Page 65

6.4.4     Floating Debt
6.4.4.1   The term "Floating Debt" is applied to borrowing of purely temporary nature with currency of
          not more than twelve monts.Market Related Treasury Bills,National prize Bonds and Bai-
          Maujjal Ijara Sukuks are included in this category.
6.4.4.2   Market Related Treasury Bills (Auction)
        These reflect non-bank borrowing of the Federal Government.
6.4.4.3   National Prize Bonds:
        These are of bearer and registered Bonds issued by the Central Directorate of National
         Saving(CDNS). These are issued in denomination of Rs.100/-, Rs.200/-, Rs.750/-, Rs.1,500/-
                 , Rs.7,500/-, Rs.15,000/-, Rs.25,000/- and Rs.40,000/-. Recently Prize Bonds amounting to
          Rs.7,500/-,Rs.15,000/-,Rs.25,000/- and Rs.40,000/- have been converted from Bearer into
          Registered Pize Bonds and date for conversion was finally extended by Finance Division
          upto 31st December,2024 with consultation of State Bank of Pakistan. The budgeted net
           figure (receipts minus repayments) for the year 2025-26 was kept at Rs.12,561.586 million,
          the revised estimates  for the year 2025-26 are kept at Rs. 10,758.940 million.Budget
          estimates for the year 2026-27 are estimated at Rs.10,330.511 million.
6.4.4.4   Government Bai-Muajjal Ijara Sukuk
         Government Bai-Muajjal Ijara Sukuk are issued through auction for a maturity period of one
          year from date of issue. Bai-Muajjal Ijara Sukuk shall be repaid only on maturity. The profit
         earned on Bai-Muajjal Ijara Sukuk shall be liable to income tax. Withholding tax shall be
         deducted at source at the applicable rate. The estimates of receipts  for floating debt during
          the year 2025-26 (Revised) and 2026-27 (Budget) are as under:-
                               TABLE 54
                                          Floating Debt (NET)
                                                                                                                                   (Rs. In Million)
  Object                                                 2025-26        2025-26        2026-27
                                  Description
  Code                                             Budget       Revised       Budget
                  Floating Debt
                Market Treasury Bills through
                 A.
                 Auction (Non-Bank)
                  Receipts                                   8,430,000.000   20,426,371.523   19,850,000.000
                Repayments                                7,930,000.000   19,836,679.807   19,500,000.000
                 A. Market Treasury Bills (Net)                 500,000.000      589,691.716      350,000.000
                 B. National Prize Bond (Net)                    12,561.586       10,758.940       10,330.511
                 C. Govt Bai-Muajjal Ijara Sukuk               897,000.000      636,197.570      700,000.000
E032              Total Floating Debt (A+B+C)              1,409,561.586    1,236,648.226    1,060,330.511

Page 66

                           CHAPTER 7

                       PUBLIC ACCOUNT RECEIPTS

7.1        Article 78(1) of the Constitution of Islamic Republic  of Pakistan provides that all revenues
          received by the Federal Government, all loans raised by that Government and all moneys
          received by it in repayment of loan, shall form part of the Federal Consolidated Fund. Article
          78(2) provides that all other monies received by or on behalf of the Federal Government shall
        be credited into the Public Account of the Federation. Therefore, all the monies received by
           or on behalf of the Federal Government in terms of Article 78(2) are Public Account receipts
         which are not revenues in terms of Article 78(1) of the Constitution. However, such Public
         Account receipts cannot be operated without  establishment of Special Purpose Funds,
           deposits, reserves etc under the authority of an Act of the Parliament or with the approval of
          the Federal Government. Moreover, as per Section 32 of the Public Finance Management
           Act, 2019, Special Purpose Funds, in which monies have been appropriated by the National
         Assembly  shall be  established under any law  or  with  the  approval  of  the  Federal
         Government.

7.2       Public Account Receipts may be categorized as Deferred  Liabilities and  Deposits &
         Reserve.The Revised and Budget Estimates of Public Accounts Receipts (Net) are given in
         Tbale 55.
                               TABLE 55
                                    Public Account Receipts (Net)

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27                              Description
  Code                                            Budget       Revised       Budget
                  Public Accounts Receipts(Net)

G03               Deferred Liabilites (Net)                    120,609.75     212,078.12     231,071.70

G06-12            Deposits and Reserves (Net)               89,517.104     69,248.568     43,306.148

                  Total Public Accounts Receipts(Net)      210,126.85     281,326.69     274,377.85

         Deferred Liabilities
7.3

7.3.1    These receipts represent the net proceeds of various savings schemes launched by the
         Government. Brief introduction of each saving scheme is given below.
7.3.2    Defence Savings Certificates
          This is a ten years scheme. However, the investment can be encashed at any time. The rate
           of return on Defence Savings Certificates has been linked with the  yield of Pakistan
          Investment Bonds of ten years maturity. The existing rate on this scheme is 10.44 % p.a. on
           maturity. Withholding tax is deducted from the profit payment. Apart from the individuals,
            institutions may invest their individuals' funds such as pension, gratuity, superannuation,
           contribtory provident funds and trusts etc.in this scheme.

Page 67

7.3.3     Special Savings Certificates
          Special Savings Certificates (Registered/Accounts)  is a three years scheme with  profit
         payable on six monthly basis. The rate of return on Special Savings Certificats/Accounts has
        been linked with the yield of Pakistan Investment Bonds of three years maturity.The existing
           rate of profit in this scheme is 11.60% per annum for first to fifth profits and 12.40 % for the
            last sixth profit. While average rate is 11.73 %. Withholding tax is deducted from the profit
         payment. Apart from individuals, institutions may invest their individuals' funds such as
          pension, gratuity, superannuation, contribry provident funds and trusts etc.in this scheme.

7.3.4     Regular Income Certificates
          This scheme was introduced on 02-02-1993 to ensure payment of income on monthly basis.
        The rate of return on Regular Saving Certificates has been linked with the yield of Pakistan
          Investment Bonds of five years matuarity. The existing profit on this scheme is 11.82 % per
        annum. The profit in this scheme is subject to withholding tax and the investment is exempt
         from compulsory deduction of zakat at source. Apart from individuals, institutions may invest
            their individual's funds such as  pension, gratuity, superannuation, contributory provident
          funds and trusts etc.in this scheme.Premature encashment on these certificates carry service
         charges as under:-
            (i) If encashed before completion of one year
                         @ 2 % of face value
         from the date of issue
            (ii) Before two years             @ 1.50 % of face value
           (iii) Before three years            @ 1% of face value
        (iv) Before four years             @ 0.5% of face value
7.3.5     Savings Accounts
          This  is the oldest saving scheme  in operation which provides  profit on non-checking
          accounts.Zakat is deducted @ 2.50 % on credit balance on valuation date each year  if
           declaration in this regard is not filed.The existing profit on savings account is 10.00% p.a.
          Withholding tax is deducted from the profit payment. Apart from individuals, institutions may
           invest  their  individuals' funds such as  pension,  gratuity, superannuation,  contributory
          provident funds and trusts etc.in this scheme.

7.3.6     Pensioners’ Benefit Accounts
          This scheme has been launched with effect from 20-01-2003 to provide incentives to the
            retired officials of the Federal Government, Provincial Governments, Azad Government of the
          State of Jammu and Kashmir, Armed Forces, Semi Governments and Autonomous Bodies
        and in case of death the pensioner’s eligible member of the family. Only one account can be
        opened in the National Savings Centre with a minimum deposit of rupees ten thousand and
            in multiple of one thousand with the facility of seven subsequent deposits subject to the
        maximum limit of five million rupees.  It is a ten years scheme and profit is payable on
          completion of each period of one month reckoned from the date of opening of an account till
           maturity or encashment whichever is earlier. The  existing rate of profit on this scheme is
         12.00 % per annum. Premature encashment before completion of one, two, three and four
          years carries service charges at the rate of 1.00%, 0.75%, 0.50% and 0.25% of principal
        amount respectively. Profit accrued from this scheme is exempt from compulsory deduction
           of withholding tax and Zakat. The scheme has been made more attractive as any upward
           revision in rate of profit notified after 09.03.2009 shall also be applicable to existing accounts
          holders whereas downward revision shall also be apply to fresh investment only.

Page 68

7.3.7    Bahbood Savings Certificates
              Initially this scheme was introduced exclusively widows to cater for their needs with monthly
             profit payment facility. The scheme was further extended to the persons of age 60 years or
         above. The existing rate of profit on this scheme is 12.00 % per annum. The maximum
          investment limit in this scheme is five million rupees and ten million rupees for  joint holders.
                 It is only a compensatory package to enable widows and senior citizens to supplement their
         income to lead a respectable life. Service charges at the rate of 1.00%, 0.75%, 0.50% and
        0.25% of the face value are deducted if certificates are encashed before completion of one,
          two, three and four years respectively. Profit accrued from this scheme is exempt from
         compulsory deduction of withholding tax and Zakat.The scheme has been made more
            attractive as any upward revision in rate of profit notified after 09.03.2009 shall also be
          applicable to existing certificate holders whereas downward revision shall apply to frash
          investment only.

7.3.8    Premium Prize Bonds (Registered):

        Premium Prize Bonds (Registered) of Rs.40,000/- denomination have been launched. These
         bonds offer biannual profit payment on completed period of six months i.e. 2.80% (biannual)
         as well as prize money on quarterly draws. The bond shall be registered against the name of
          purchaser. The ownership of bond is transferable from one person to another person through
        an application on prescribed format.

7.3.9    Shuhada's Family Welfare Account (SFWA)
       A new savings scheme, namely Shuhada Family Welfare Account (SFWA), for the welfare of
            eligible family members of Shuhada (martyrs) has been launched on 11th May, 2018. The
            eligible family members can open the SFWA account in any National Savings Centre across
          Pakistan after fulfillment of required documentation. Preferential profit in line with the existing
          welfare product i.e., Bahbood Savings Certificate and Pensioner Benefit Account shall be
          paid to the investor of SFWA on monthly basis. Current profit rate is 12.00 % . Profit shall be
         exempted from Withholding Tax and compulsory deduction of Zakat.

7.3.10   The Budget estimates of Deferred  Liabilites on account of National Savings Schemes
          (Net)are reported in below table:-

Page 69

                               TABLE 56
                                     Deferred Liabilities (Net)
                                                                                                                                   (Rs. In Million)
  Object                                                        2025-26        2025-26        2026-27                           Description  Code                                                   Budget       Revised       Budget
   G03           Deferred Liabilities
             (A)   Provident Fund                               (20,678.620)      (20,484.000)      (16,329.500)
             (B)   Saving/Deposit Acctt/Certificates          141,288.368      232,562.120      247,401.199
                 Saving Bank Accounts                          8,931.249         163.331       10,056.814
               Khas Deposit Accounts                               (5.000)            (5.000)            (5.000)
               Mahana Amdani Accounts                        (100.000)         (110.000)         (100.000)
                   Pensioners' Benefit Accounts                  30,174.304       66,933.718       63,628.490
                Defence Saving Certificates                   (16,809.744)      (18,733.489)      (21,354.590)
               Bahbood Savings Certificates                 74,912.568      126,777.705      114,143.526
                   National Deposit Certificates                         (1.000)            (1.000)            (1.000)
               Khas Deposit Certificates                            (0.700)            (0.700)            (0.700)
                   Special Savings Certificates
                                                                    5,018.836        7,968.690        9,469.835
                   (Registered)
                   Special Savings Accounts (Term
                                                                   972.676        1,363.556        1,620.424
                   Deposit)
               Shuhda Welfare Account                         40.000           65.000           75.000
                  Regular Income Certificates                   29,155.179       57,140.309       54,868.400
                  Short Term Savings Certificates                5,000.000       (22,000.000)      (10,000.000)
             New Saving Scheme                           4,000.000       13,000.000       25,000.000
G03               Total Deferred Liabilities (A+B)             120,609.748      212,078.120      231,071.699

7.4      Deposits and Reserves
          Deposits and Reserves represent all form of monies on the part of the Public Account of the
          Federation as per Article 78(2) of the Constitution of Islamic Republic of Pakistan. The
          estimates in table 46 are, however, subject to fulfillment of following stipulations:
(i)       The funds appropriated by the National Assembly out of Federal Consolidated Funds in
         terms of Articles 80 to 84 of the Constitution for a particular financial year (being lapsable)
           shall not be deposited under these deposits and reserves heads of account (being non-
          lapsable) under the Public Account.
(ii)      The maintenance and operation of all these funds, deposits, reserves etc shall be subject to
            their due establishment either under the authority of an Act of Parliament or with the approval
           of the Federal Government, as the case may be.
(iii)      Revenues as per Article 78(1) of the Constitution shall not be deposited in these deposits and
          reserves heads of account under the Public Account. The revenues shall be deposited in the
          respective heads of account of tax revenue and non tax revenue.

Page 70

(iv)       Receipt and withdrawal of funds into/from these deposits and resreves heads of account
           shall only be allowed by the Accounting Offices subject to compliance of the stipulations at (i)
           to (iii) above and to the extent of reconciled available balance under the respective head of
          account.
                               TABLE 57
                                  Deposits and Reserve Fund
                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
             FGE BENEVOLENT FUNDS                6,568.242     13,563.540     14,241.716
G06202              Civil                                       1,993.572       9,073.694       9,527.378
G06203          F.G.Employees Benevolent Fund (Defenc     4,482.572       4,446.542       4,668.869
G06205           Pakistan Post Office Department                 7.166                   -                      -
G06206          Housing & Works Division                     53.359         20.446         21.469
G06209           National Saving                              24.921         17.142         17.999
G06212           Geological Survey of Pakistan                   6.652          5.716          6.001
            GROUP INSURANCE FUNDS               1,784.919       1,879.282       1,973.247
G06401          Housing & Works Division                       9.223          5.050          5.303
G06404           National Saving                                6.238          3.955          4.153
G06407           Geological Survey of Pakistan                   2.536          2.219          2.330
G06409              Civil                                       465.649        540.414        567.435
G06410          Defence                                   1,300.392       1,327.644       1,394.026
G07104          Fed. Govt. Empl. Group Insur. Fund              0.881                   -                      -
               Main Department                         26,870.157       7,114.135       7,469.842
                Defence                                 23,294.720       5,958.324       6,256.240
G11224           Deposit Account with Defence              23,294.720       5,958.324       6,256.240
                 Pakistan Post Office                                              -        208.802        219.242
G07106           Pakistan Post Office Miscellaneous                            -        208.802        219.242
               Housing & Works Division                  3,575.437        947.009        994.360
                 Housing & Works Receipts & Collection
G10101                                                    464.720         38.260         40.173
                 Account
G10113           Public Works/H&W Div Deposits             3,110.717        908.749        954.187
             OTHERS                               172,830.505    325,649.707    130,989.156
G06304          Workers Welfare Fund                     65,809.106     73,162.826     76,820.967
G06315             Judicial Officers Welfare Fund.                  2.964          3.156          3.314
G12140       PM Flood relief Fund 2010                      0.042          5.005          5.255
                                                                                                                          contd….

Page 71

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27
                          Description
  Code                                            Budget       Revised       Budget
G12150       PM Relief Fund for Thar 2014                 174.519                   -                      -
G12152       PM Relief Fund for Thar 2014                                -             0.028          0.030
            PM COVID-19 Pandemic Relief Fund
G12157                                                                                        -             0.021          0.022
                  2020.
G12164          PM's Relief Fund,Earthquake Other Cal                   -         1,663.440       1,746.612
                PM's Relief Fund for Turkiye & Syria
G12166                                                                                        -           25.152         26.410
                 Earthquake
G12169          PM's Relief Fund for Ghaza & Labnan          169.447         15.360         16.128
G12186          Prime Minister' Austery Fund,2026                          -      128,472.428                   -
                 Prime Minister' Austery Fund,2026
G12193                                                                                        -        81,085.598                   -
             SOEs
                   Special Fund for Welfare and Uplift of
G12206                                                                                        -           34.873         36.617
                     Minorities
                  Federal  Government  Artists  Welfare
G12226                                                                                        -             1.518         50.707
               Fund
G12305           Export Development Fund                  25,430.000       8,517.000     20,000.000
                Reserve Fund  for Exchange Risk on
G12308                                                     2,372.969     11,506.138     12,081.445
                  Foreign Loans
G12412           Pakistan Oil Seed Development Fund          188.631        190.953        200.501
G12419          Research & Development Fund              3,800.000       3,582.565       4,154.000
G12421          Diamer Basha and Mohmand Dam Fund     61,757.251          4.950          5.198
G12504          Workers Children Education Fund                0.147          0.073          0.076
G12612         Fund for Urdu Science Board                    1.047          2.500          3.000
G1270G         Board of Investment                         400.000        400.000        400.000
G1270X           National Tarrif Commission Fund              500.000        800.000        900.000
                   Trust Interest Fund (Charitable
G12712                                                        4.382          1.853          1.946
                Endowment)
G12738           National Fund for Control of Drug Abuse         20.000         80.545         84.572
G12783           Universal Service Fund                    11,000.000     14,780.052     12,833.000
G14100           Pakistan Mint                              1,200.000       1,200.000       1,500.000
G10104           Mint Receipt and Collection Account                        -          113.673        119.356
               Gross Receipts                         208,053.823    348,206.664    154,673.961
                 Less Expenditure                        118,536.719    278,958.096    111,367.813
                 Deposits and Reserves (Net)              89,517.104     69,248.568     43,306.148

Page 72

                           CHAPTER 8
                         PRIVATIZATION PROCEEDS
8.1        Privatization in Pakistan is an important economic reform policy tool, for generating growth
        and to expunge structural inefficiencies, by removing false barriers and opening up the
        economy to competition. The Privatization is part of the economic and structural reforms
        agenda of Government of Pakistan that emphises to enhance the growth and productivity of
          Pakistan's economy through deregulation and good governance ,while harnessing the private
          sector as engine of economic growth. It takes an integrated approach towards enhancing the
           private sector’s role and goes beyond the transfer of public assets to the private sector, by
           identifying the linkages and role of regulation, good governance, market competition in
           fostering conditions that provide incentives for the private sector to invest in providing goods
        and services efficiently.
8.2      The Privatization Commission Ordinance, 2000 was promulgated on 28th September, 2000
           to establish "Privatization Commission"  for implementation of privatization policy of the
          Federal Government.
8.3       Section 16(2) of the said Ordinance envisages that the privatization proceeds shall be utilized
         by the Federal Government as follows:-
    (a)    ten percent shall be used for poverty alleviation programmes and;
    (b)    the remaining ninety percent for retirement of the Federal Government debt.
        The estimates of privatization proceeds are given in below table8.4

                               TABLE 58
                                           Privatization Proceeds

                                                                                                                                   (Rs. In Million)
  Object                                                2025-26        2025-26        2026-27                          Description
  Code                                            Budget       Revised       Budget
E01501-02         Privatization Proceeds                     86,550.000     14,257.000    160,500.000

Page 73

               PART-II
       EXTERNAL RECEIPTS
(ESTIMATES OF FOREIGN ASSISTANCE)

Page 74

No text layer on this page, see the official PDF.

Page 75

                           CHAPTER 9

                   ESTIMATES OF FOREIGN ASSISTANCE

          External resources are derived from a combination of finanicing instruments, includling
9.1
           project loans and grants, programme loans and other loans.

9.2       Project Loans and Grants
           Project loans and grants are received from specialized International Financial Institutions and
9.2.1
            friendly countries with specific purposes falling under the following broad categories;
9.3       Project Loans & Grants for Public Sector Development Programme (PSDP)
           Project loans and grants for PSDP are received for various projects being executed by
9.3.1     Federal Government, Provincial Governments and various Autonomous Bodies such as
       WAPDA, PEPCO, NHA etc.

9.4       Project Loans and Grants for Other than PSDP Projects

         There are certain projects kept out of PSDP, which are executed by Federal Government,
9.4.1
           Provincial Governments and Autonomous Bodies by receiving project loans and grants.

9.5     Programme Loans

        Programme loans are provided for budgetary support and are linked/tied with achievement of
9.5.1
           specific targets and goals.
9.6       Other Loans

         Other loans comprise of loans from Islamic Development Bank, Sovereign Bonds, Sukuk
9.6.1
         Bonds, etc raised from non-traditional sources.
        The estimates of external resources for the year 2025-26 (budget and revised) and 2026-27
9.6.2
          (budget) are tabulated below:

Page 76

                                       Table 1
                       Summary of Foreign Assistance
                                                                                                                                  (Rs. In Million)
                                                     2025-26        2025-26        2026-27
S. No.                Description
                                                Budget        Revised       Budget
  (1)   PSDP Projects (A+B)                          229,000.267    310,978.717    255,000.000
              A. Project Loans                         215,719.384    300,129.523    246,073.135
                 Federal Projects                         89,421.976    167,764.940    112,765.796
               Autonomous Bodies                    126,297.408    132,364.583    133,307.339
              B. Project Grants                         13,280.883     10,849.194      8,926.865
                 Federal Projects                         11,236.600       9,856.082      6,376.702
               Autonomous Bodies                       2,044.283        993.112      2,550.163
  (2)    Projects (Outside PSDP)                       716,345.121    610,316.920    564,303.170
              A. Project Loans                         686,761.380    580,148.480    533,036.210
                 Federal Projects                           240.700       2,987.600      8,439.000
                 Provinces                             686,520.680    577,160.880    524,597.210
             B. Project Grants                         29,583.741     30,168.440     31,266.960
                 Federal Projects                          2,195.300       3,474.800        406.000
                 Provinces                              27,388.441     26,693.640     30,860.960
  (3)   Programme Loans and Grants                 418,699.100    430,405.360    418,023.980
               Loans                                418,699.100    427,045.360    418,023.980
                Grants                                      0.000      3,360.000          0.000
  (4)    Other Loans                                 4,413,510.000   3,672,816.000  5,542,297.300
        External Resources
               Loans                                5,734,689.864   4,980,139.363  6,739,430.625
                Grants                                 42,864.624     44,377.634     40,193.825
         Total External Resources (1+2+3+4)           5,777,554.488   5,024,516.997  6,779,624.450

Page 77

                                       Table 2
                           Foreign Assistance Projects (PSDP)
                           (FG and Autonomous Bodies)
                                                                                                                                  (Rs. In Million)
                                                     2025-26        2025-26        2026-27
S. No.                Description
                                                Budget        Revised       Budget
             (a)   Federal Government                   100,658.576    177,621.022    119,142.498
               Loans                                  89,421.976    167,764.940    112,765.796
                Grants                                 11,236.600       9,856.082      6,376.702
             (b)   Autonomous Bodies                  128,341.691    133,357.695    135,857.502
               Loans                                126,297.408    132,364.583    133,307.339
                Grants                                   2,044.283        993.112      2,550.163
                 (i)  WAPDA (Power)                        69,479.614          0.000          0.000
               Loans                                  69,479.614          0.000          0.000
                Grants                                      0.000          0.000          0.000
                  (ii)  NTDC                                       0.000          0.000          0.000
               Loans                                       0.000          0.000          0.000
                  (iii)  PPMC                                      0.000          0.000          0.000
               Loans                                       0.000          0.000          0.000
              (iv)  NHA                                   54,856.200     25,978.815     59,250.000
               Loans                                  53,356.200     25,882.263     57,250.000
                Grants                                     1,500.00          96.55        2,000.00
              (v)  HEC                                     3,687.354          0.000          0.000
               Loans                                   3,143.071          0.000          0.000
                Grants                                   544.283          0.000          0.000
              (vi)  Power Division                              0.000    107,378.880     76,607.502
               Loans                                       0.000    106,482.320     76,057.339
                Grants                                      0.000        896.560        550.163
               (vii)  SUPARCO                               318.523          0.000          0.000
               Loans                                   318.523          0.000          0.000
               (viii)  WAPDA (Water)                             0.000          0.000          0.000
               Loans                                       0.000          0.000          0.000
                Grants                                      0.000          0.000          0.000
                 Total Project Loans                   215,719.384    300,129.523    246,073.135
                 Total Project Grants                    13,280.883     10,849.194      8,926.865
        Total PROJECT LOANS & GRANTS FOR     229,000.267    310,978.717    255,000.000
      PSDP

Page 78

                                       Table 3
                      Foreign Assistance Projects (Outside PSDP)
                      (FG,Autonomous Bodies & Provinces)
                                                                                                                                  (Rs. In Million)
S. No.                Description                   2025-26        2025-26        2026-27
                                                Budget        Revised       Budget               Loans/Grants Wise Break-up
         (A)     Federal Government                     2,436.000       6,462.400      8,845.000
               Loans                                   240.700       2,987.600      8,439.000
                Grants                                   2,195.300       3,474.800        406.000
         (B)     Provinces                             713,909.121    603,854.520    555,458.170
               Loans                                686,520.680    577,160.880    524,597.210
                Grants                                                        27,388.441     26,693.640     30,860.960
                  (i)   Punjab                                124,276.890    105,680.260    144,087.660
               Loans                                123,824.490    102,390.260    139,733.600
                Grants                                   452.400       3,290.000      4,354.060
                  (ii)   Sindh                                366,744.611    367,897.540    256,055.210
               Loans                                359,616.730    358,149.220    252,005.910
                Grants                                   7,127.881       9,748.320      4,049.300
                  (iii)   Khyber Pakhunkhwa                  183,942.070     98,145.880    122,774.400
               Loans                                170,802.460     98,145.880    104,324.600
                Grants                                 13,139.610     10,231.200     18,449.800
              (iv)   Balohistan                             38,945.550     18,475.520     28,533.100
               Loans                                  32,277.000     18,475.520     28,533.100
                Grants                                   6,668.550       3,424.120      4,007.800
                 Total Project Loans                   686,761.380    580,148.480    533,036.210
                 Total Project Grants                    29,583.741     30,168.440     31,266.960
        Total PROJECT LOANS & GRANTS FOR
                                                      716,345.121    610,316.920    564,303.170
      OUTSIDE PSDP

Page 79

                                       Table 4
                        Programme Loans and Grants
                                                                                                                                  (Rs. In Million)
                                                     2025-26        2025-26        2026-27
S. No.                Description
                                                Budget        Revised       Budget
       Programme Loans & Grants for Federal and
   (I)        Provinces
  A)    Federal                                       330,266.500    316,915.200    335,312.500
        Loans                                        330,266.500    313,555.200    335,312.500
        Grants                                              0.000      3,360.000          0.000
  B)    Provinces                                      88,432.600    113,490.160     82,711.480
                           i    Punjab                                 53,209.200     78,350.160     49,665.980
                          ii    Sindh                                       0.000          0.000      5,800.000
                         iii   KPK                                   35,223.400     35,140.000     27,245.500
               iv    Balochistan                                  0.000          0.000          0.000
         Total Programme Loans & Grants for
   (I)                                                  418,699.100    430,405.360    418,023.980        Federal and Provinces
   (II)   Programme Loans & Grants ( Donor-Wise)
       A)     Proramme Loans                      418,699.100    427,045.360    418,023.980
       1     ADB                                  284,204.930    261,842.000    270,097.300
       2      IsDB                                    8,476.700         28.000      7,250.000
       3      IBRD                                    1,160.000       8,904.000     17,110.000
       4      IDA                                  124,857.470    156,271.360    123,566.680
       5      IFAD                                        0.000          0.000          0.000
       B)     Proramme Grants                           0.000      3,360.000          0.000

       1     ADB                                        0.000      3,360.000          0.000
         Total Programme Loans & Grants
   (II)                                                  418,699.100    430,405.360    418,023.980            ( Donor-Wise)

Page 80

                                       Table 5
                                    Other Loans
                                                                                                                                  (Rs. In Million)
                                                     2025-26        2025-26        2026-27
S. No.                Description
                                                Budget        Revised       Budget
  1    IsDB Short-term (Loans)                        203,000.000    280,000.000    290,000.000
  2   SFD Oil Facility                                290,000.000    280,000.000          0.000
  3     Foreign Commercial Bank Loans                 899,000.000    742,000.000    681,500.000
  4   ECO Trade                                          0.000     30,520.000     31,610.000
  5    Bonds                                        116,000.000    280,000.000    580,000.000
  6    SAFE Deposit                                 1,160,000.000    280,000.000          0.000
  7   KSA Time Deposit                             1,450,000.000   1,400,000.000          0.000
  8     Bilateral Deposit                                     0.000          0.000  3,480,000.000
  9    Naya Pakistan Certificates (NPC)                 176,610.000    262,416.000    325,487.300
  10    IMF                                          118,900.000    117,880.000    153,700.000
         Total Other Loans                            4,413,510.000   3,672,816.000  5,542,297.300

Page 81

                                      Table 6
             Budget Estimates of Foreign Economic Assistance - 2026-27

                                                                                                                                (Figures In Million)
Donor Group         Donor           B.E 2026-27 PKR         B.E 2026-27 US$
               China                                  28,315.802                        97.641
              Denmark (DANIDA)                      14,500.000                        50.000
               France                                 27,351.257                        94.315
              Germany                                 3,159.260                        10.894
                      Italy                                     258.000                         0.890
               Japan                                   4,624.055                        15.945
   Bilateral
               Korea                                   8,474.936                        29.224
                Kuwait                                   5,985.913                        20.641
            Oman                                   1,542.800                         5.320
                Saudi Arabia                            13,682.700                        47.182
            USA                                     6,927.700                        23.889
                Block Allocation                           1,300.000                         4.483

              Bilateral Total                            116,122.423                       400.422

            ADB                                  487,397.135                      1,680.680
                 AIIB                                   25,037.800                        86.337
               EIB                                      5,124.000                        17.669
             IBRD                                 119,485.460                       412.019
              IDA                                  415,911.962                      1,434.179
  Multilateral
              IFAD                                   11,529.900                        39.758
               IsDB                                   54,125.530                       186.640
               IsDB (Short-term)                      290,000.000                      1,000.000
           OPEC Fund                              2,542.940                         8.769
           UN                                       50.000                         0.172

            Multilateral Total                          1,411,204.727                      4,866.223

               Bonds                                                      580,000.000                      2,000.000
           ECO Trade                                                       31,610.000                       109.000
                 Foreign Commercial Banks              681,500.000                      2,350.000
              Naya Pakistan Certificates               325,487.300                      1,122.370 Others Loans
            KSA Time Deposit                                             -                                             -

            SAFE China Deposit                                          -                                             -

                    Bilateral Deposit                      3,480,000.000                      12,000.00

              IMF                                  153,700.000                       530.000

         Others Loans Totals                        5,252,297.300                    18,111.370

           Grand Total                             6,779,624.450                    23,378.015

Page 82

                 SUMMARY OF NON-TAX REVENUE RECEIPTS
            (MINISTRIES/DIVISIONS/DEPARTMENTS/INSTITUTIONS/AUTHORITIES)
                                                                                                                                (Rs. In Million)
                                                      2025-26        2025-26        2026-27
Sr.NO                   Description
                                                 Budget       Revised       Budget
  1     State Bank of Pakistan                          2,400,000.000   2,428,364.394   1,435,750.000
  2      Ministry of Energy (Petroleum Division)         1,910,736.500   1,822,437.500   2,033,482.500
   (i)     Petroleum Development Levy                    1,468,395.000   1,498,000.000   1,676,509.000
   (ii)     Royalty on Gas                                 138,000.000     85,000.000     95,000.000
  (iii)     Royalty on Oil                                   69,000.000     40,000.000     45,504.000
  (iv)     Windfall Levy against Crude Oil                    20,000.000     16,106.000     17,000.000
  (v)     Natural Gas Development Surcharge               49,437.000     63,000.000     70,814.000
  (vi)     Discount Retained on local Crude Price             30,000.000     19,488.000     20,500.000
         Receipts under the Mines - Oilfields and Mineral
  (vii)                                                    15,000.000        450.000        100.000        Development Act
 (viii)    Petroleum Levy on LPG                            5,000.000       3,463.000       3,455.000
  (ix)     Climate Support Levy                                                     -        48,000.000     50,000.000
  (ix)    Gas Infrastructure Development Cess.               2,400.000       2,000.000       2,248.000
  (x)     Others Petroleum Division                       113,504.500     46,930.500     52,352.500
  3      Ministry of Defence                             66,892.564     52,925.026     57,302.000
   (i)      Effective Services                                35,442.364     28,000.000     31,473.000
   (ii)     Others Receipts from UNO                        31,200.000     24,700.000     25,600.000
  (iii)     Others Defence                                   250.200        225.026        229.000
  4      Ministry of Interior                              99,858.059     92,530.525    104,945.379
   (i)     Passport and Visa Fees                          76,500.000     65,000.000     73,060.000
   (ii)    ICT Interior                                      17,736.750     23,928.000     27,517.000
  (iii)     Others Interior                                    5,621.309       3,602.525       4,368.379
  5     Regulatory Authorities                          39,088.000     37,517.329     42,120.000
   (i)     Pakistan Telecommunciation Authority (PTA)        23,149.000     26,613.240     28,984.500
   (ii)    Abandoned Properties Organization (APO)            500.000        500.000                   -
                                                                                                              contd…

Page 83

                                                                                                                                (Rs. In Million)
                                                      2025-26        2025-26        2026-27
Sr.NO                   Description
                                                 Budget       Revised       Budget
  (iii)     Port Qasim Authority (PQA)                         2,000.000       2,000.000       1,000.000
          Securities & Exchange Commision of
  (iv)                                                      3,675.000       2,271.760       2,675.000
        Pakistan(SECP)
  (v)    Drug Regulatory Authority of Pakistan(DRAP)         1,000.000                   -         1,000.000
          National Database and Registration Authority
  (vi)                                                      4,800.000       4,800.000       5,000.000
       (NADRA)
         Pakistan Standard Quality Control
  (vii)                                                      1,000.000                   -         1,000.000
        Authority(PSQCA)
 (viii)     Oil and Gas Regulatory Authority (OGRA)            1,000.000        420.000        400.000
          National Electric Power Regulatory Authority
  (ix)                                                     800.000        884.000        900.000
       (NEPRA)
  (x)      Civil Aviation Authority (CAA)                        800.000                   -          800.000
  (xi)     Others Regulatory Authorities                       364.000         28.329        360.500
  6      Ministry of Communications                     13,164.300     11,984.091     12,117.900
  7      Ministry of Industries & Production              10,000.000     20,000.000     22,481.000
  8      Ministry of IT & Telecommunication               6,500.000       6,500.000       6,500.000
         Special Communications Organization               6,500.000       6,500.000       6,500.000
  9      Ministry of Housing & Works                      1,700.500       1,155.240       1,160.000
  10     Ministry of Maritimes Affairs                      2,844.000       1,090.966       1,783.100
         Ministry of Overseas Pakistanis & Human
  11                                                      1,100.000       1,100.000       1,150.000
       Resource Development
         Ministry of National Food Security and
  12                                                      1,513.500       1,531.200       1,513.500
       Research
         Ministry of Religious Affairs and Interfaith
  13                                                      712.278          1.500          3.000
       Harmony
  14      Ministry of Foreign Affairs                        1,145.000       1,795.000       1,795.000
  15     Ministry of Commerce                            700.000       1,500.000       1,800.000
  16    Accountant General of Pakistan Revenues         1,000.800       1,000.000       1,000.000
  17     Election Commission of Pakistan                    68.887         43.505         50.000
         Ministry of National Health Services,
  18                                                      405.763        400.203        452.615
        Regulations & Coord.

                                                                                                              contd…

Page 84

                                                                                                                                (Rs. In Million)
                                                      2025-26        2025-26        2026-27
Sr.NO                   Description
                                                 Budget       Revised       Budget
  19    Economic Affairs Division                         106.575        148.977        106.575
  20     Competition Commision of Pakistan                200.000       1,032.790        300.000
  21     Establishment Division                            270.500        249.200        270.500
  22     Ministry of Law and Justice                        380.650        205.223        251.625
         Ministry of Federal Education and
  23                                                      156.000        167.614        170.302
        Professional Training
         Ministry of Inter Provincial Coordination
  24                                                      166.000        143.000        150.000
         (IPC)
  25     Pakistan Atomic Energy Commission                                                         200.505         82.000         95.000
  26     Pakistan Mint                                    200.000        200.000        200.000
  27     Others Ministries/Divisions/Departments                                                         152.048        159.844        136.723
        Miscellaneous Receipts of Attached
  28                                                     84,000.000    139,461.449    155,582.852
       Departments
  29     Mobile Handset Levy                            12,000.000     13,000.000     14,000.000
        Grants/Receipts from Provinces under Article-
  30                                                                                          -                      -     1,035,000.000
       164
  31    Foreign Grants-Devp Grants                       2,000.000       6,000.000       2,000.000
        Dividends (Financial/Non Financial
  32                                                   206,134.000    201,000.000    130,387.000
         Institutions)
  33    Mark-up (Provinces)                            95,809.652     93,791.795    100,802.004
  34    Mark-up (PSEs & Others)                      188,000.000    156,000.000    170,851.000
         Total Non-Tax Revenue Receipts               5,147,089.506   5,093,364.394   5,335,598.000

         Privatization Proceeds                        86,550.000     14,257.000    160,500.000