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December 6, 2019

Govt fetches Rs107 bn non-tax revenues

Top Story

December 6, 2019

ISLAMABAD: The government has so far fetched over Rs107 billion on account of non-tax revenues through renewal of licences of mobile operators, thus helping the government to achieve primary deficit target in line with IMF conditions.

“China Mobile (ZONG) has deposited Rs37 billion as renewal of licence fee in national kitty on November 30, 2019,” top official sources confirmed to The News here on Thursday. Earlier two other mobile operators Telenor Pakistan and Jazz had deposited Rs70 billion in shape of renewal of licence fee in national kitty during the first quarter (July-Sept) period of the current fiscal year.

Adviser to Prime Minister on Finance and Revenues Dr Abdul Hafeez Shaikh had praised the fiscal management through which the Ministry of Finance managed primary balance surplus in first five months of the current fiscal year. Now PTI-led government has devised strategy to compensate FBR revenue shortfall through increased collection in shape of non-tax revenues. “We have increased non-tax revenue target by additional collection of Rs200 to Rs300 billion as its target jacked up from Rs1,200 billion to Rs1,500 billion for the current fiscal year,” said Dr Abdul Hafeez Shaikh.

On other hand, the FBR had been facing massive revenue shortfall in first five months of the current fiscal year and the reported shortfall was standing at more than Rs210 billion. This FBR shortfall is expected to go up so the government strategy is to bridge this gap through improved collection of non-tax revenues in the current fiscal year.