LAHORE: The Punjab Revenue Authority (PRA) has collected 74% of the assigned target of Rs190 billion by collecting Rs140.79 billion, showing revenue growth at 26.1 percent during the first three quarters of the current financial year. This is a tremendous performance despite current ban on release of funds on account of all development projects in Punjab.
It may be noted that the Authority has successfully collected Rs14.930 billion during the month of March 2023 which is reportedly 15.3 percent higher than the revenue collected at Rs12.95 billion during the same period last year. During March 2023, the PRA also collected Punjab Workers Welfare Fund (PWWF) amounting to Rs555 million thus showing its growth at 207 percent if compared with the last year collection at Rs181 million.
PRA Chairperson Dr Javed Iqbal Sheikh in a media briefing stated that the Authority is hopeful of achieving the budgetary target while continuing with the policies of last chairperson Zain-ul-Abidin Sahi.
It is pertinent to mention that the PRA has been exceeding the assigned revenue collection targets for over the past three years while adopting the taxpayer friendly voluntary compliance model duly complemented by extensive use of information technology which is a great achievement in Pakistan’s scenario having undocumented economy.
Copyright Business Recorder, 2023
Comments
Comments are closed for this article.