LAHORE: The Punjab Revenue Authority has surpassed the upward revised target of Rs.165.5 billion for the financial year 2021-22.
According to provisional collection figures up to the 28th of June, 2022, the collection by PRA stands at Rs.168 billion, which is 108% of the original target of Rs.155.9 billion and 101.5% of the revised target.
According to PRA spokesperson, the Authority expects substantial revenue in the last two days of the financial year and is hoping to end the year close to Rs.170 billion. It is worth mentioning that earlier this year, PRA became the first provincial revenue collecting agency in the country to cross the psychological barrier of Rs.150 billion and the collection in June has further established it as the leading Provincial revenue collecting agency in the country.
This is the third successive year in which PRA has surpassed its revenue collection target. Earlier the Authority collected more than the assigned targets of Rs.105 billion and Rs.125 billion in the financial years 2019-20 and 2020-21 respectively.
PRA spokesperson further elaborated that this success has been achieved without resorting to any coercive actions such as sealing of premises, attachment of bank accounts or collection of advance payments. PRA has relied completely on collaboration with all stakeholders and emphasis on taxpayer facilitation and education. More than 200 awareness workshops were held during the financial year with more than 2,000 participants.
PRA expects the growth trend to continue in the coming years as its management and all workforce is committed to continuing its focus on compliance without resorting to any measures that adversely affect ease of doing business.