PRA witnesses 30pc growth during first five months

LAHORE: Punjab Revenue Authority continued the growth trajectory path on the fifth consecutive month of the ongoing fiscal year and surpassed the revenue collection target of Rs14.9 billion for November 2022 by collecting Rs15.6 billion.

PRA had collected Rs12.4 billion during the corresponding period of the last fiscal year. The PRA registered unprecedented growth of 30 percent in the first five months of the ongoing fiscal year. The PRA, during the first five months of the financial year 2022-23 PRA collected a record Rs73 billion which is 30 percent higher than the Rs56.1 billion collected during the corresponding period of financial year 2021-22. The above collection figures reflect that PRA has been able to achieve over 38 percent of its assigned target of Rs190 billion for 2022-23 while maintaining growth of above 30 percent which translates into a remarkable contribution towards Punjab’s own source tax revenue.

The PRA accounted for over 60 percent of Punjab’s own source tax revenue during the last financial year, collecting over Rs170 billion and exceeding its assigned target of Rs155 billion.