Punjab’s revenue collection grows 20% in FY24

The Punjab Revenue Authority (PRA) has achieved a significant milestone by collecting revenue of over Rs239 billion in financial year 2023-24, up 20% compared with total receipts of Rs200.1 billion last year. The final collection for FY24 is likely to rise further after the settlement of civil accounts, according to a statement issued by the PRA on Monday. “This is a great achievement as it is the highest-ever collection by any provincial revenue authority including the other three provincial revenue authorities,” a PRA spokesperson said. The total revenue collection comprises Rs223.4 billion in Punjab sales tax on services, up 17% against receipts of Rs191.2 billion last year, Rs10.2 billion in Punjab Workers Welfare Fund, reflecting a 92% growth over collection of Rs5.3 billion last year and Rs5.5 billion worth of Punjab Infrastructure Development Cess, an increase of 55% compared with the collection of Rs3.5 billion last year.