Monday 27 January 2020
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The News - 2 month ago

Govt fetches Rs107b non-tax revenues

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 Ministry of Finance managed primary balance surplus in first five months of the current fiscal year. Now the PTI-led government 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.In the first quarter of the current fiscal the profit of State Bank of Pakistan had ballooned to Rs185 billion so the performance of non-tax revenues through renewal of telecom licences as well as lofty profits of SBP helped the government to convert primary deficit into surplus under the IMF programme for the first three months. Now the government will have to shift its focus towards sale out of privatisation proceeds as transaction of RLNG plants possessed potential to bring another Rs300 billion in national kitty within the ongoing fiscal year.On other hand, the government also expects more non-tax revenues from the telecom operators during the remaining period of the current fiscal year. So far the telecom operators had deposited 50 percent fee in accordance with their commitment.The Pakistan Telecommunication Authority (PTA) stated on Thursday in a tweet that the recent deposits from Cellular Mobile Operators against licence renewal fee to the tune of more than Rs107 billion would provide support to the national exchequer as well as to the economy. This also shows the positive contribution by telecom sector efforts of PTA, it concluded.

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