PRA Achieves Yet Another Milestone, Collects Record Rs197 Billion in FY23

LAHORE MIRROR — The Punjab Revenue Authority (PRA) has surpassed yet another upwards revised target of Rs197 billion four days earlier than the closure of the financial year 2022-23.

According to the provisional revenue figures the collection stands 26.5 billion higher than the revenue generated of Rs.170.5 billion for the financial period 2021 – 2022.

The monthly provisional revenue figures up to 26 June 2023 stands at over Rs.23 billion which is 38% higher than the collection of Rs.16.7 billion generated for June 2022.

As per the spokesperson the Authority was initially assigned Rs.190 billion as its target which was later revised to Rs.195 billion and finally Rs.197 billion.

It is pertaining to mention here that this was without the Rs.15 billion in input tax adjustment which was due from FBR in this FY. He further deliberated that the achievement is beyond imaginary if compared to the economic situation of the country where the overall growth of services remained at 0.86%.

In the last quarter, the Authority relied on taxpayer facilitation as well as effective enforcement to regular non-compliant taxpayers which resulted in generating higher amount of tax collection.

As per the Chairperson this is the fourth successive year in which PRA surpassed its revenue collection target and hopefully shall become the first provincial revenue collecting agency in the country to cross the psychological barrier of Rs.200 billion, further establishing itself as the leading Provincial revenue collecting agency in the country.