The Punjab Revenue Authority (PRA) has announced that it has exceeded its revenue collection target for the first quarter (Q1) of the fiscal year 2021-22 with a growth of over 23%. It was reported that it is the highest revenue collection growth in Q1 of any fiscal year (FY) in the history of any revenue authority.
The construction services sector saw the highest increase in revenue generation growth with 118%. The construction industry contributed PKR 516.659 million as compared to PKR 237.460 million collected last year. It was followed by revenue generated through technical-scientific and engineering consultants and restaurants, which witnessed a 43% increase. The telecommunication services sector was reported to be the highest tax contributing to the provincial exchequer. It saw an increase of 28% as it contributed PKR 7.8069 billion.
PRA Chairperson Zain-ul-Abidin Sahi stated that the figures are expected to rise after the civil accounts are finalised.
Eman has been actively writing about the real-estate market in Pakistan since 2019. She is most interested in researching and writing about the latest trends in the real estate market that help her readers make informed decisions.