The Khyber Pakhtunkhwa Revenue Authority (KPRA) claimed on Thursday to have successfully achieved its revenue target of Rs17 billion for the fiscal year 2019-20 that ended on June 30.
The KPRA showed 63.4 per cent growth rate in revenue collection compared to the fiscal year 2018-19, despite the catastrophic impact of the Covid-19 pandemic on the overall economy and business activities in the province.
In the fiscal year 2018-19, the revenue authority had collected Rs10.4 billion, which shows 63 per cent growth rate in the year 2019-20.
All the regions of the authority successfully completed their revenue targets showing tremendous growth compared to the previous year.
The major part of the collection came from Peshawar, with over Rs11.4 billion in revenue in both corporate and non-corporate sectors.
Similarly, revenue collection from Mardan was about Rs284 million, the north region Rs172 million, while the recently established south region collected Rs208 million in fiscal 2019-20.
About Rs1.2 billion were generated from the sales tax on services on oil and gas sector, while Rs1.95 billion were collected from withholding agents.
Khyber-Pakhtunkhwa (K-P) Finance Minister Taimur Khan Jhagra and Director-General KPRA Fayyaz Ali Shah appreciated the efforts of the revenue authority’s employees for achieving these revenue targets in such extraordinary circumstances.
Minister Jhagra congratulated DG KPRA and his team for their performance, and helping the government gather funds for financing its developmental projects.
He said that the KPRA was an outcome of the present government's reforms, and hoped that the authority would show more improvement with even more promising results by the end of the next fiscal year.
“Achieving these revenue targets in the current circumstances is really a proud moment for us. We are thankful for the support and encouragement of the K-P government, particularly the finance minister who made this possible," said DG KPRA.
"We are committed to not only continuing on the current growth rate but to further increase it in the new fiscal year. We have to build a tax culture in the province and our aim is to make Khyber-Pakhtunkhwa fiscally self-reliant," he added.
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