LAHORE: Punjab Revenue Authority (PRA) has collected Rs 10.1 billion in the month of February 2021 compared to Rs 9.2 billion in February 2020. This is the first time that the Authority has crossed Rs 10 billion mark in the month of February.
According to the provisional figures, PRA’s total collection for the first eight months of the financial year 2020-21 is Rs 96.3 billion compared to Rs 71.5 billion in the same period of the last financial year, which represents a growth of 35%. Once the figures are finalized, the collection is expected to improve further.
This growth reflects that the economy is doing well despite the second wave of Covid-19. As the financial year draws to a close, the collection is likely to improve further as the economy continues to bounce back from the effects of the pandemic. The PRA spokesperson said that the workforce of the Authority is all geared up to increase its efforts and ensure that the target for 2020-21 is surpassed.
He further said that based on the current figures, the Authority expects to collect Rs 140 billion in 2020-21 against the assigned target of Rs 125 billion. PRA intends to continue its policy of focusing on compliance and stakeholder involvement and avoiding coercive measures, as envisioned by Punjab Finance minister.
Copyright Business Recorder, 2021