KPRA achieves revenue target of Rs17b with 63 percent growth rate
PESHAWAR: The Khyber Pakhtunkhwa Revenue Authority (KPRA) has successfully achieved its revenue targets of Rs17 billion with 63 percent growth rate for the fiscal year 2019-20.
The authority showed 63.4 percent growth rate in revenue collection compared to the fiscal year 2018-19, despite the catastrophic impact of the pandemic COVID-19 on the overall economy and business activities in the province.
In the fiscal year 2018-19, the authority had collected Rs 10.4 billion, which shows 63 percent 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 chunk came from Peshawar Region which collected over Rs11.4 billion revenue in both corporate and non-corporate sectors.
Similarly, the Mardan Region collected Rs284 million, the North Region collected Rs 172 million while the recently established South Region collected Rs 208 million revenue in fiscal 2019-20.
Rs 1.2 billion were generated from the sales tax on services on the oil and gas sector while, Rs 1.95 billion came from withholding agents.
Finance Minister Taimur Salim Jhagra said the KPRA is an outcome of the present government's reforms and hoped that the authority would show more improvement with more promising results by the end of the next fiscal year. - APP