FISCAL DEVELOPMENT

Unit
Revenue
Rs. Billion
Tax revenue
-doFederal
-doFBR revenue
-doDirect taxes
-doSales tax
-doCustoms duties
-doOil and gas surcharges
-doProvincial
-doNon-tax revenue
-doExpenditure
-doCurrent expenditure
-doFederal
-doInterest
-doOther
-doProvincial
-doDevelopment Expenditure
& Net Lending
-doStatistical discrepancy
-doBudget balance
-do(As % of GDP)
%
Financing
Rs. Billion
External
-doDomestic
-do- Bank
-do- Nonbank
-doMemorandum items
Primary balance
Rs. Billion
Defense spending
-doTotal government debt
-doDomestic debt
-doExternal debt
-doT : Target
QE : Quick Estimate

2004-05
900
659
624
595
184
236
117
29
35
241
1,196
943
689
210
478
254

2005-06
1,077
804
767
713
225
295
138
54
37
273
1,422
1,093
760
237
523
333

2006-07
1,298
954
917
843
330
309
132
74
37
344
1,675
1,375
973
369
604
402

2007-08
1,500
1,051
1,085
1,025
405
382
140
60
65
449
2,277
1,894
1,034
490
640
457

252
-79
-217
3.3
198
113
85
72
-4

367
-86
-326
4.3
281
202
80
61
18

424
-125
-377
4.3
348
170
178
102
57

387
-4
-777
7.4
777
151
626
520
106

-86
212
4,085
2,176
1,910

-108
242
4,354
2,337
2,017

-8
250
4,750
2,607
2,144

-287
285
5,087
2,822
2,265

2008-09 T 2008-09 QE
1,832
1,995
1,358
1,468
1,299
1,409
1,250
1,360

49
59
474
2,408
1,968
1,451
523
928
517

49
527
527
2,557
2,147
1,630
618
976
517

472
0
-576
4.7
576
227
355
99
250

399
11
-562
4.2
582
227
355
105
250

-53
56
296
296
5736
7637
3,201
3,673
2,535
3,964
Source: Budget Wing, MoF

TABLE 4.1
FEDERAL GOVERNMENT OVERALL BUDGETARY POSITION
(Rs Million)
Fiscal Year/
Item
A. REVENUE
1.
Direct Taxes
2.
Indirect Taxes
i.
Customs
ii.
Sales Tax
iii.
Federal Excise
3.
Total Tax Revenue
(1+2)
4.
Surcharges (Gas & Oil)
5.
Non-Tax Revenue
6.
Total Revenue Receipts
Gross (3+4+5)
B. EXPENDITURE
9.
Current Expenditure*
i.
Defence
ii.
Interest
iii.
Grants
iv.
Economic Services
@
v.
Subsidies
vi.
Other
10.
Development Expenditure(PSDP)
11.
Total Expenditure (9+10)
RE- Revised Estimate
Q.E.- Quick Estimates
@ : Include Law and Order, Social, Economic and Community Services
* Current expenditure here includes earthquake related spendings

2007-08
(R.E)

2008-09
(B.E)

405,000
619,636
150,545
385,497
83,594
1,024,636
1,059,814
35,178
370,698
1,430,512

405,000
754,000
170,000
472,000
112,000
1,159,000
1,212,000
53,000
410,776
1,622,776

1,437,166
1,377,153
277,300
296,077
489,681
523,172
87,000
87,000
78,900
78,900
407,485
295,204
96,800
96,800
238,000
247,000
1,675,166
1,624,153
Source: Budget Wing, Finance Division, Islamabad

TABLE 4.2
SUMMARY OF PUBLIC FINANCE (CONSOLIDATED FEDERAL AND PROVINCIAL GOVERNMENTS)

Fiscal Year/
Item
Total Revenues (I+ii)
Federal
Provinical
I) Tax Revenues
Federal
Provinical
ii) Non-Tax Revenues
Federal
Provinical
Total Expenditures (a+b+c)
a) Current
Federal
Provinical
b) Development(PSDP)
c) Net Lending to PSE's
d) Statistical Discripency
Overall Deficit
Financing (net)
External (Net)
Domestic (i+ii)
i) Non-Bank
ii) Bank
iii) Privatization Proceeds
Memorandum Item
GDP (mp) in Rs. Billion
Total Revenue
Tax Revenue
Non-Tax Revenue
Expenditure
Current
Development
Overall Deficit Incl. E.quake Exp.
B.E Budget Estimate
R.E. Revised Estimates.

1997-98

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

429,454
400,342
29,112
354,754
338,042
16,712
74,700
62,400
12,300
634,014
529,919
407,219
122,700
104,095
-204,560
204,992
38,761
166,231
118,202
48,029
-

468,601
429,691
38,910
390,726
375,078
15,648
77,875
54,613
23,262
647,778
547,279
424,443
122,836
98,286
2,213
-179,177
179,177
97,070
82,108
155,919
-73,811
-

512,500
477,600
34,900
405,600
386,800
18,800
106,900
90,800
16,100
709,100
626,400
477,900
148,500
95,600
-12,900
9,700
-206,300
206,300
69,700
136,600
96,700
39,900
-

553,000
514,000
39,000
441,600
422,500
19,100
111,400
91,500
19,900
717,900
645,700
479,000
166,700
89,800
-17,600
14,800
-179,700
179,700
120,700
59,000
92,000
-33,000
-

624,100
584,000
40,100
478,100
459,300
18,800
146,000
124,700
21,300
826,250
700,200
524,600
175,600
126,250
-200
-11,700
-190,450
190,450
83,100
107,350
85,000
14,000
8,350

720,800
673,600
47,200
555,800
534,000
21,800
165,000
139,600
25,400
898,200
791,700
599,800
191,900
129,200
-22,700
3,200
-180,600
180,600
113,000
67,600
119,500
-55,600
3,700

794,000
900,014 1,076,600
741,000
842,900
992,200
53,000
57,114
84,400
611,000
659,410
803,700
583,000
624,700
766,900
28,000
34,710
36,800
183,000
240,604
272,900
158,000
218,200
225,300
25,000
22,404
47,600
956,000 1,116,981 1,401,900
775,000
864,500 1,034,700
557,000
664,200
789,100
218,000
200,300
245,600
161,000
227,718
365,100
20,000
24,763
2,100
-32,000
0
-86,307
-130,000
-216,967
-325,300
130,000
216,988
325,200
-5,900
120,432
148,900
135,900
96,556
176,300
61,000
8,050
8,100
63,690
60,179
70,900
11,210
28,327
97,300

1,297,957
1,215,730
82,227
889,685
852,866
36,819
408,272
362,864
45,408
1,799,968
1,375,345
973,130
402,215
433,658
-9,035
-124,510
-377,501
377,501
147,150
230,351
56,905
101,982
71,464

2,678

2,938

3,826

4,210

4,453

16.0
13.2
2.8
23.7
19.8
3.9
7.7

15.9
13.3
2.7
22.0
18.6
3.3
6.1

13.4
10.6
2.8
18.8
16.4
2.5
5.4

13.1
10.5
2.6
17.4
15.3
2.1
4.3

14.0
10.7
3.3
18.3
15.7
2.8
4.3

4,876
5,641
6,500
(As Percent of GDP at Market Price)
14.8
14.1
13.8
11.4
10.8
10.1
3.4
3.2
3.7
18.5
16.9
17.2
16.2
13.7
13.3
2.2
3.2
3.9
3.7
2.3
3.3

Beginning from 1999-2000, Pakistan's GDP was rebased at 1999-2000 Prices from two decades old base of 1980-81
Therefore, wherever, GDP appears in denominator the number of prior to 1999-2000 are not comparable.

7,623

8,723

2007-08
R.E.
1,499,380
1,380,599
118,781
1,050,696
1,009,902
40,794
448,684
370,697
77,987
2,276,549
1,853,147
1,416,015
437,132
451,896
-28,494
-777,169
777,169
151,311
625,858
104,302
519,906
1,650
10,478

(Rs Million)
% Change
2008-09 2008-09/
(B.E) 2007-08
1,809,240
20.7
1,662,238
20.4
147,002
23.8
1,317,857
25.4
1,251,462
23.9
66,395
62.8
491,383
9.5
410,776
10.8
80,607
3.4
2,391,491
5.0
1,875,832
1.2
1,358,832
-4.0
517,000
18.3
516,629
14.3
-970
0
-582,251
582,251
165,216
417,035
242,922
149,007
25,106
12,280

17.2

14.1
14.9
14.3
14.7
10.5
10.2
10.0
10.7
3.6
4.7
4.3
4.0
18.4
20.6
21.7
19.5
13.6
15.8
17.7
15.3
4.8
4.9
4.0
4.2
4.3
4.3
7.4
4.7
Source: Budget Wing, Finance Division, Islamabad

TABLE 4.3
CONSOLIDATED FEDERAL AND PROVINCIAL GOVERNMENTS REVENUES

Fiscal Year/
1997-98 1998-99 1999-00
Item
Total Revenue (I+II)
429,454 468,601 512,500
Federal
400,442 429,691 477,600
Provincial
29,012
38,910
34,900
I. Tax Revenues (A+B)
354,754 390,726 405,600
Federal
338,042 375,078 386,800
Provincial
16,712
15,648
18,800
A. Direct Taxes (1+2)
105,098 105,588 115,672
Federal
103,182 103,476 112,600
Provincial
1,916
2,112
3,072
B. Indirect Taxes
(3+4+5+6+7)
249,656 285,138 289,928
3. Excise Duty
62,922
62,691
56,934
Federal
62,011
60,572
55,600
Provincial
911
2,119
1,334
4. Sales Tax*
53,942
68,680 116,767
5. Taxes on International Trade
74,496
78,654
61,600
6. Surcharges*
42,911
61,927
38,912
6.1 Gas
6,364
9,855
13,500
6.2 Petroleum
36,547
52,072
25,400
7. Other Taxes **
15,385
13,186
15,715
7.1 Stamp Duties
4,814
5,287
6,397
2,113
2,368
2,803
7.2 Motor Vehicle Taxes
7.3 Foreign Travel Tax*
1,464
1,769
1,350
7.4 Others
6,994
3,762
5,165
II. Non-Tax Revenues
74,700
77,875 106,900
Federal
62,400
54,613
90,800
Provincial
12,300
23,262
16,100
*
Revenues under these heads are exclusively Federal.
**
Mainly include Provincial Revenues.
B.E Budget Estimate
R.E. Revised Estimates.

2005-06

2006-07

2000-01

2001-02

2002-03

2003-04 2004-05

553,000
514,000
39,000
441,600
422,500
19,100
128,556
124,585
3,971

624,100
584,000
40,100
479,335
460,224
19,111
147,403
142,649
4,754

720,800
673,600
47,200
555,800
534,000
21,800
157,886
151,976
5,910

793,700
743,600
50,100
611,000
583,000
28,000
171,188
164,497
6,691

313,044
50,325
49,000
1,325
153,500

331,932
48,572
47,189
1,383
166,618

397,914
45,437
44,002
1,435
195,138

439,812 472,937
47,538 60,813
45,823 58,670
1,715
2,143
220,607 235,533

579,553
58,702
55,000
3,702
294,600

65,000
30,200
12,300
17,900
14,019
5,230
3,121
1,048
4,620
111,400
91,500
19,900

47,817
54,854
18,867
35,987
14,071
5,721
3,195
1,097
4,058
146,000
124,700
21,300

68,835
68,230
21,358
46,872
20,274
6,631
3,893
4,054
5,696
165,000
139,600
25,400

90,940 117,243
61,381 26,769
16,770 16,165
44,611 10,604
80,727 59,348
10,329 10,573
4,722
5,749
4,751
2,050
60,925 40,976
182,700 240,604
160,600 218,200
22,100 22,404

138,200
132,200
150,545
170,000
12.9
50,800
64,546
35,178
53,000
50.7
26,300
34,888
20,708
53,000
155.9
24,500
29,658
14,470
0
88,051
36,592
36,755
55,917
52.1
10,211
10,268
11,123
16,918
52.1
7,107
7,719
4,975
9,832
97.6
3,593
3,681
356
3,713
943.0
67,140
14,924
20,301
25,454
25.4
272,900
408,272
448,685
491,383
9.5
225,300
362,864
370,698
410,776
10.8
47,600
45,408
77,987
80,607
3
Source: Budget Wing, Finance Division, Islamabad

900,014 1,076,600 1,297,957

842,900
992,200 1,215,730
57,114
84,400
82,227
659,410
803,700
889,685
624,700
766,900
852,866
34,710
36,800
36,819
186,473
224,147
337,639
176,930
215,000
334,168
9,543
9,147
3,471
552,046
74,026
71,575
2,451
309,228

2007-08
(R.E)
1,499,381
1,380,600
118,781
1,050,696
1,009,902
40,794
391,350
387,563
3,787

2008-09
(B.E)
1,809,240
1,662,238
147,002
1,317,857
1,251,462
66,395
504,650
496,000
8,650

659,346
86,549
83,594
2,955
385,497

813,207
115,290
112,000
3,290
472,000

(Rs Million)
% change
2008-09/
2007-08
20.7
20.4
23.8
25.4
23.9
62.8
29.0
28.0
128.4
23.3
33.2
34.0
11.3
22.4

TABLE 4.4
CONSOLIDATED FEDERAL AND PROVINCIAL GOVERNMENTS EXPENDITURES
Fiscal Year/
Item
Current Expenditure
Federal
Provincial
Defence
Interest
Federal
Provincial
Current Subsidies
Federal
Provincial
Gen. Administration*
Federal
Provincial
All Others**
Development Expenditure
Net Lending to PSEs
Total Expenditure
Memorandum Items:
Current Expenditure
Defense
Interest
Current Subsidies
General Administration
All Others
Development Expenditure
Total Expenditure
Current Expenditure
Defense
Interest
Current Subsidies
General Administration
All Others
Development Expenditure@
Total Expenditure
*
**
@
Note:

1997-98

1998-99

1999-00

2000-01

529,911
407,211
122,700
136,164
202,356
196,251
6,105
8,840
6,268
2,572
61,431
27,344
34,087
121,120
104,095
634,006

547,279
424,443
122,836
143,471
220,100
213,259
6,841
15,035
9,533
5,502
66,950
26,650
40,300
101,723
98,286
2,213
647,778

626,400
477,900
148,500
150,400
262,247
245,100
17,147
23,239
14,700
8,539
92,108
47,500
44,608
98,406
95,600
-12,900
709,100

645,700
479,000
166,700
131,200
249,252
234,500
14,752
29,028
19,900
9,128
100,981
70,700
30,281
135,239
89,800
-17,600
717,900

16.4
6.8
25.6
-25.8
33.8
11.2
21.7
17.2

3.3
5.4
8.8
70.1
9.0
-16.0
-5.6
2.2

14.5
4.8
19.1
54.6
37.6
-3.3
-2.7
9.5

3.1
-12.8
-5.0
24.9
9.6
37.4
-6.1
1.2

83.6
21.5
31.9
1.4
9.7
19.1
16.4
100.0

84.5
22.1
34.0
2.3
10.3
15.7
15.5
100.0

88.3
21.2
37.0
3.3
13.0
13.9
11.7
100.0

89.9
18.3
34.7
4.0
14.1
18.8
10.1
100.0

2001-02

2002-03

2003-04

2004-05

700,200
791,700
775,000
864,500
524,600
599,800
557,000
664,200
175,600
191,900
218,000
200,300
149,254
159,700
184,904
211,717
273,894
235,304
226,256
219,744
245,300
209,700
202,500
210,196
28,594
25,604
23,756
9,548
29,221
57,114
67,920
66,673
25,488
50,000
62,500
57,800
3,733
7,114
5,420
8,873
91,024
100,210
120,023
130,531
56,300
60,900
75,500
81,400
34,724
39,310
44,523
49,131
156,807
239,372
175,897
235,835
126,250
129,200
161,000
227,718
-200
-22,700
20,000
24,763
826,250
898,200
956,000
1,116,981
(Percent Growth over Preceeding period)
8.4
13.1
-2.1
11.5
13.8
7.0
15.8
14.5
9.9
-14.1
-3.8
-2.9
0.7
95.5
18.9
-1.8
-9.9
10.1
19.8
8.8
15.9
52.7
-26.5
34.1
40.6
2.3
24.6
41.4
15.1
8.7
6.4
16.8
As % of Total Expenditure
84.7
88.1
81.1
77.4
18.1
17.8
19.3
19.0
33.1
26.2
23.7
19.7
3.5
6.4
7.1
6.0
11.0
11.2
12.6
11.7
19.0
26.7
18.4
21.1
15.3
11.9
18.9
22.6
100.0
100.0
100.0
100.0

Also include law & order, social, Economic and Community Services.
Include mainly Provincial Expenditures.
Include net lending
Variation in figures of interest payments of table 4.4 and 4.5 is on account of different methodology and sources of data
collection used by Budget Resource Section and Debt Management Section of Finance Division.
B.E Budget Estimate
R.E. Revised Estimates.

1,375,345
973,130
402,215
249,858
387,119
369,000
18,119
76,039
74,010
2,029
225,120
146,017
79,103
437,209
433,658
-9,035
1,799,968

2007-08
RE
1,853,147
1,416,015
437,132
277,300
522,698
489,681
33,017
423,685
407,485
16,200
368,159
175,700
192,459
261,305
451,896
-28,494
2,276,549

(Rs million)
2008-09
(B.E)
1,875,832
1,358,832
517,000
296,077
557,596
523,172
34,424
299,995
295,204
4,791
368,159
175,700
192,459
354,005
516,629
-970
2,391,491

32.9
3.6
48.9
-24.9
37.9
62.5
18.8
28.4

34.7
11.0
35.0
457.2
63.5
-40.2
4.2
26.5

1.2
6.8
6.7
-29.2
0.0
35.5
14.3
5.0

2005-06

2006-07

1,034,700
789,100
245,600
241,063
260,021
237,119
22,902
101,238
86,300
14,938
163,263
103,100
60,163
269,115
365,100
2,100
1,401,900
19.7
13.9
18.3
51.8
25.1
14.1
60.3
25.5
73.8
17.2
18.5
7.2
11.6
19.2
26.2
100.0

76.4
81.4
78.4
13.9
12.2
12.4
21.5
23.0
23.3
4.2
18.6
12.5
12.5
16.2
15.4
24.3
11.5
14.8
23.6
18.6
21.6
100.0
100.0
100.0
Source: Budget Wing, Finance Division

TABLE 4.5
DEBT SERVICING

Fiscal Year/
Item
A. Interest Payments
A.1 Federal
Interest on Domestic Debt
Interest on Foreign Debt
Foreign Loans
IMF Drawings
Food Credit/
Short Term Borrowings
Euro Bonds
$ Denomination Bonds
A.2 Provincial
B. Repayments/Amortization
of Foreign Debt.
Foreign Loans
Food Credits
C. Total Debt Servicing (A+B)
MEMORANDUM ITEMS
Interest on Domestic
Debt (Federal)
Interest on Foreign Debt
Repayment of Foreign Debt
Total Debt Servicing
nil
B.E Budget Estimate
R.E. Revi Revised Estimates
Note:

(Rs million)
%Change
2008-09/
2007-08
47.1
49.6
54.1
22.6
5.1
-

1997-98

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

202,356
196,251
167,513
28,738
24,836
1,555

220,100
213,259
175,273
37,986
30,335
1,707

273,909
256,762
210,155
46,607
34,691
2,513

254,234
239,482
188,482
51,000
40,355
2,909

278,671
250,077
189,477
60,600
68,134
2,483

241,678
216,074
166,874
49,200
45,571
0.0

236,849
202,940
161,540
41,400
111,258
1,295

250,611
216,042
176,342
39,700
35,030
423

276,565
244,648
202,548
42,100
63,603
0

358,780
335,880
287,463
48,417
50,651
0

2007-08
RE
527,849
502,470
443,117
59,353
53,251
0

2,347
-

3,133
2,811

6,167
3,236

4,187
4,690

2,483
4,812

6,105
83,961

6,841
122,980

17,147
97,071

14,752
96,160

28,594
164,905

1,840
3,609
429
25,604
64,234

288
2,242
265
33,909
69,765

445
4,720
198
34,569
55,724

814
5,774
264
31,917
85,411

1,213
7,762
265
22,900
67,304

385
9,365
265
25,379
88,383

-68.3
20.7
0.0
10.8
31.3

59,327
24,634

77,431
45,549

78,608
18,463

74,623
21,537

68,134
96,771

46,207
18,027

45,978
23,787

54,258
1,466

63,603
21,809

54,040
13,264

61,686
26,697

14.1
101.3

286,317

343,080

370,980

350,394

443,576

305,912

306,614

306,335

361,976

426,084

616,232

44.6

(As Percent of GDP)

6.3
1.1
3.1
10.7

6.0
1.3
4.2
11.7

5.5
1.2
2.5
9.7

4.5
1.2
2.3
8.3

4.3
1.4
3.7
10.0

3.4
1.0
1.3
6.3

2.9
0.7
1.2
5.4

2.7
0.6
0.9
4.7

2.7
3.3
4.2
0.6
0.6
0.6
1.1
0.8
0.8
4.7
4.9
5.9
Source: D.M. Section, Finance Division,Islamabad

Variation in figures of interest payments of table 4.4 and 4.5 is on account of different methodology and sources of data collection used by Budget Resource Section and Debt Management Section of Finance Division.

Beginning from 1999-2000, Pakistan's GDP was rebased at 1999-2000 Prices from two decades old base of 1980-81
Therefore wherever,
Therefore,
wherever GDP appears in denominator the number of prior to 1999-2000 are not comparable.
comparable

TABLE 4.6
INTERNAL DEBT OUTSTANDING (AT END OF PERIOD)

Fiscal Year/
Type of Debt

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

2006-07

2007-08
R.E.

2008-09
B.E.

(Rs million)
% Change
2008-09/
2007-08

Permanent Debt

317,402

325,569

349,212

424,767

468,768

570,009

526,179

514,879

562,540

616,766

705,537

14.4

Floating Debt

561,590

647,428

737,776

557,807

516,268

542,943

778,163

940,233 1,107,655

1,589,587

1,604,587

0.9

Un-funded Debt

573,945

671,783

712,010

792,137

909,500

914,597

873,248

881,706

940,007

1,020,378

1,152,378

12.9

1,452,937 1,644,780 1,798,998 1,774,711 1,894,536 2,027,549 2,177,590 2,336,818 2,610,202

3,226,731

3,462,502

7.3

19.1
49.3
31.6

20.4
46.3
33.3

Total

(Percent Share in Total Debt)

Memorandum Items:
Permanent Debt
Floating Debt
Un-funded Debt
Total Debt as %
of GDP (mp)
B.E Budget Estimate
R.E. Revised Estimates.

21.8
38.7
39.5

19.8
39.4
40.8

19.4
41.0
39.6

23.9
31.4
44.6

24.7
27.3
48.0

28.1
26.8
45.1

24.2
35.7
40.1

22.0
40.2
37.7

49.4

43.0

42.7

39.9

38.9

35.9

33.5

30.7

21.6
42.4
36.0

29.9
30.8
28.2
Source: D.M. Section, Finance Division,Islamabad