KARACHI: The Sindh Revenue Board (SRB), regarding the Sindh Workers Welfare Fund (SWWF) and Sindh Workers Profit Participation Fund (WPPF) has obtained 527 payments as compared to last year’s 296 payments, registering a growth of 78 per cent despite a slowdown in the economy in general, the chairman of the board disclosed.

In a follow-up meeting between interim Chief Minister Sindh Justice Maqbool Baqar and Chairman SRB Wasif Memon on Sunday, the latter informed the CM that an increase in the collection of payments was also made despite the reduction of sales in the auto sector due to price hike and pharmaceutical sector due to issues in raw material import in particular.

Chairman SRB told that consequent to the directions of the CM, the SWWF team of SRB has taken prompt actions and issued more than 5,200 notices to the various industrial establishments and recovered an amount of Rs7.562bn in the current financial year as compared to Rs5.4bn recovered last year, registering a growth of 35 percent.

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He said: “267 show-cause notices amounting to Rs. 40 billion have been issued to the fund payers against which an amount of Rs.6.1 billion had been deposited with Nazir of the Sindh High Court (SHC) by banks and other fund payers.”

It should be noted that the banking sector had deposited bank guarantees worth Rs. 5.1 billion with the Nazir of the Court for the first time against 61 show-cause notices. At this, the CM directed the Advocate General (AG) Sindh for early release of the total amount of Rs. 31 billion lying with the Nazir of the Sindh High Court as that amount relates to the banking industry and other Sindh-based industrial establishments.

CM Baqar was further told that in addition to the show-cause notices of Rs. 40 billion, the SRB has issued 303 short payment notices of Rs.27 billion to various fund-payers in compliance with his directives. The SRB had additionally started recoveries through bank attachment against 80 fund payers in whose cases assessment orders have been passed.

Memon told the CM that SRB is making great efforts to take the collection of SWWF and SWPPF to the highest limits.

“The target for the first six months of the current financial year set for SRB was Rs.6.3 billion against which the SRB collected Rs.7.562 billion exceeding the target by Rs. 1.262 billion.

Copyright Business Recorder, 2024

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