Pakistan's fiscal surplus falls 40% to Rs1.27 trillion in first quarter of FY27

Pakistan’s consolidated fiscal surplus was Rs1.274 trillion in July-September 2026, down 40% from a year earlier and equal to 0.9% of GDP, Profit by Pakistan Today reported. Government revenue reached Rs6.004 trillion while spending totalled Rs4.730 trillion; the primary surplus, which excludes debt interest, was Rs2.974 trillion, or 2.1% of GDP.

Tax receipts amounted to Rs3.387 trillion, including Rs3.086 trillion collected by the FBR, up 7% year on year. Non-tax income was Rs2.617 trillion, supported by Rs1.933 trillion in SBP profits and Rs381.8 billion from the petroleum levy, while public-debt interest costs reached Rs1.699 trillion. The IMF’s programme projection puts the full-year fiscal deficit at 3.5% of GDP, excluding grants.