The profit of Pakistan Telecommunication Authority (PTA) increased by 269 percent year on year in the first quarter of fiscal year 2021-22.
According to the State Bank of Pakistan (SBP), PTA’s profits increased to Rs. 30.1 billion in the first quarter of FY22, up from Rs. 8.2 billion in the previous fiscal’s first quarter.
Revenues increased dramatically after the government got Rs. 23.4 billion for issuing a 4G spectrum licence to a large cellular carrier, Ufone. The remainder of the money was generated through the authority’s different accounts and levies.
The sum received for the licence was half of the total sales price of the licence, with the remainder paid in five equal instalments annually in accordance with the terms and conditions.
PTA’s contribution is the second largest in the national kitty in terms of non-tax revenues.
The State Bank of Pakistan (SBP), the largest producer of non-tax revenue, earned Rs. 109 billion in Q1 FY22, compared to Rs. 105 billion in the same time last year, representing a 3.5 percent year-on-year increase.
Despite a decrease in interest earnings as a result of the partial retirement of the government’s debt with SBP.
This decrease was more than offset by interest earnings from open market operation (OMO) injections, which nearly doubled compared to the same period last year.
Revenues from oil and gas royalties increased by 48 percent in Q1 FY22, rising to Rs. 21.7 billion in 2021 from Rs. 14.6 billion in 2020.
Passport and other fee revenue increased by 106 percent in Q1 FY22, rising to Rs. 6.1 billion from Rs. 3 billion the previous year.
The government’s revenue from the Petroleum Development Levy fell by 90%. It fell to Rs. 13.3 billion in Q1 F22, down from Rs. 136 billion in Q1 FY21.
The significant disparity is due to the fact that the government absorbed high petroleum product costs through this tax.
Overall, the government’s non-tax revenue income fell by 22% during the same time period. It was Rs. 257.7 billion in Q1 FY22, down from Rs. 356.3 billion in Q1 FY21.
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