Pakistan posts Rs1.3tr consolidated fiscal surplus in 1QFY27

Pakistan recorded a combined federal and provincial surplus of Rs1.27tr, equal to 0.9% of GDP, during July-September FY27, Mettis Global reported from provisional Finance Division figures. The comparable balance a year earlier was Rs2.12tr, or 1.7% of GDP, while the primary surplus eased to Rs2.97tr from Rs3.50tr.

Receipts totalled Rs6tr, around 3% below the year-earlier level, as a 7% increase in tax collection to Rs3.39tr was outweighed by non-tax income declining 14% to Rs2.62tr. Spending climbed 16% to Rs4.73tr; interest costs rose 23% to Rs1.70tr, while development outlays and net lending increased 61% to Rs474.85bn. External financing contributed Rs608.86bn net, whereas domestic financing was negative Rs1.88tr; non-bank funding reached Rs592.10bn, compared with Rs112.06bn.