PRA collects record Rs 54.8bn in first two months of current FY

LAHORE, Sep 02 (APP):The Punjab Revenue Authority (PRA) has achieved significantly improved revenue collection during the first two months of the current fiscal year (FY), recording its highest-ever collection for the period compared with the previous 13 years.

A significant increase in revenue has been recorded following the establishment of Special Units and the Large Taxpayer Commissionerate on the directions of the Chief Minister Punjab.

“For the first time, Rs 54.8 billion has been collected during the first two months of a fiscal year,” the PRA spokesperson disclosed to media here Wednesday. In comparison, Rs 43.3 billion was collected during the corresponding period of the previous fiscal year. The collection during the first two months of the current fiscal year reflects an increase of Rs. 11.5 billion over the same period last year.

The spokesperson said that misappropriation of taxes paid by the public is a punishable offence under the law, and strict action is being taken against those involved in fraudulent practices.

A meeting on monthly revenue targets was held under the chairmanship of Punjab Revenue Authority Chairman Moazam Iqbal Sipra. He said that tax compliance, enforcement and digital tax administration in Punjab would witness further significant improvement. He said, digital monitoring and direct payment mechanisms have enhanced transparency in tax collection and contributed to increased revenue generation. The PRA Chairman directed enforcement teams to accelerate field operations and ensure the timely redress of public complaints.