Punjab Revenue Authority (PRA) Collects ₨.10.1 Billion Tax Revenue In February
The spokesperson added that the Authority's workforce was all set to increase its efforts and ensure the target for 2020-21 was surpassed.
The Punjab Revenue Authority (PRA) collected ₨. 10.1 billion in February 2021.
According to the provisional collection figures released on Monday, the collection had been ₨. 9.2 billion in February 2020.
It is for the first time that the Authority has crossed the ₨. 10 billion mark in the month of February.
Data revealed that total collection in the first eight months of the fiscal year 2020-21 stood at ₨. 96.3 billion as compared to ₨. 71.5 billion in the same period of last year, which showed a growth of 35%.
Once the figures are finalized, the collection is expected to improve further.
The growth indicates that the economy is performing well despite the second wave of the COVID-19 pandemic.
“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.
The spokesperson added that the Authority’s workforce was all set to increase its efforts and ensure the target for 2020-21 was surpassed.
Based on current figures, the PRA expected to collect Rs 140 billion in 2020-21 against the assigned target of Rs.125 billion.
The PRA intends to continue its policy of focusing on compliance and stakeholder involvement and avoiding coercive measures, as envisioned by the Provincial Minister of Punjab for Finance, Hashim Jawan Bakht.
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