ISLAMABAD – The federal government has increased the non-tax revenue target in budget for next fiscal year 2025-26 in order to generate more income to meet the expenditures.
Federal Finance Minister Muhammad Aurangzeb presented the budget in the National Assembly on June 10 and proposed an increase in the non-tax revenue target from Rs4,902 billion in FY2024-25 to Rs5,147 million in FY225-26.
The federal government has also hiked the tax revenue target for the Federal Board of Revenue (FBR) to Rs14,131 billion for FY2025-26 compared to Rs11,900 billion in outgoing fiscal year.
Citizenship, Naturalization & Passport Fee Target
The federal government has also increased the Citizenship, Naturalization & Passport Fee target to Rs76,500 million for fiscal year 2025-26 as compared to Rs75,000 million in FY2024-25.
It means the Directorate General of Immigration and Passport will require collecting more revenue in the upcoming fiscal year while there are no reports of any increase in the passport fees so far.
Budget 2025-26
The finance minister unveiled the Federal Budget 2025-26 with a total outlay of 17,573 billion, encapsulating measures aimed at promoting inclusive and sustainable economic growth.
Presenting the budgetary proposals for the next fiscal year in the National Assembly on June 10, he said this budget is a beginning of a strategy, crafted to promote competitive economy.
This, he said, will bolster exports and foreign exchange reserves in order to avoid imbalances in payments and promote economic productivity. He said the budget strategy is aimed at bringing fundamental changes in the country’s economy.
The Finance Minister said the net revenue receipts have been estimated at Rs11,072 billion. The FBR collections are likely to be Rs14,131 billion, which is 18.7 percent higher than the current fiscal year. He said the provincial share in the Federal receipts will be Rs8,206 billion.
Muhammad Aurangzeb said the economic growth rate is expected to be 4.2 percent and inflation 7.5 percent during the next financial year. The budget deficit will be 3.9 percent of GDP, while primary surplus will be 2.4 percent of GDP.
