State Bank of Pakistan’s surplus profit declines to Rs1.93 trillion in the first quarter of FY2026-27, contributing to a reduction in federal and overall non-tax receipts.

Pakistan’s non-tax revenue declined 14.1% year-on-year during the first quarter of FY2026-27, mainly due to a sharp reduction in the State Bank of Pakistan’s (SBP) surplus profit.

According to government fiscal data, total non-tax revenue fell to Rs2.617 trillion during July-September 2026, compared with Rs3.046 trillion in the corresponding period of FY2025-26.

The SBP’s surplus profit dropped 20.4% to Rs1.933 trillion from Rs2.428 trillion, representing a decline of approximately Rs495.4 billion. The reduction significantly affected federal non-tax receipts, which decreased 15.2% to Rs2.531 trillion from Rs2.985 trillion.

Other revenue streams also recorded mixed performances. Dividend income plunged to Rs6.57 billion from Rs26.55 billion, while passport fee collections declined to Rs11.20 billion from Rs14.11 billion.

However, petroleum levy collections increased to Rs381.82 billion from Rs371.61 billion, while carbon levy receipts more than doubled to Rs22.26 billion from Rs10.19 billion.

Royalties on oil and gas rose to Rs38.95 billion from Rs22.85 billion, while the natural gas development surcharge increased to Rs16.37 billion from Rs7.94 billion.

Provincial non-tax revenue provided some relief, increasing 38.9% to Rs86.02 billion from Rs61.93 billion.

The figures highlight the impact of lower SBP profit transfers on government non-tax revenue, despite improved collections from several petroleum and energy-related levies.