Punjab's tax collection jumps 44%

[Kabira]

LAHORE:

Punjab’s tax collection registered a 44% growth to Rs77 billion in first quarter of the ongoing fiscal year compared to the corresponding period of previous year, despite tough conditions of the federal government for the provinces to get a share in the federal divisible pool of resources.

Punjab Finance Minister Makhdoom Hashim Jawan Bakht disclosed this at a review meeting of the Finance Department on Monday.

The meeting was briefed that despite the financial backlog left by the previous government, the current government gave a surplus budget of Rs233 billion in order to meet financial requirements of the federal government to comply with conditions of the International Monetary Fund (IMF) loan programme.

Meeting participants noted that a revenue collection target of Rs388 billion was fixed for Punjab for the current fiscal year 2019-20, which was 44% higher than the previous fiscal year.

Published in The Express Tribune, October 15th, 2019.
https://tribune.com.pk/story/2079537/2-punjabs-tax-collection-jumps-44/

 

[AZADPAKISTAN2009]

Great news

 

[war&peace]

And patwaris were saying the govt failed in its goals.. well the statistics speak otherwise. Well done govt of Punjab.

 

[ps3linux]

LAHORE:

Punjab’s tax collection registered a 44% growth to Rs77 billion in first quarter of the ongoing fiscal year compared to the corresponding period of previous year, despite tough conditions of the federal government for the provinces to get a share in the federal divisible pool of resources.

Punjab Finance Minister Makhdoom Hashim Jawan Bakht disclosed this at a review meeting of the Finance Department on Monday.

The meeting was briefed that despite the financial backlog left by the previous government, the current government gave a surplus budget of Rs233 billion in order to meet financial requirements of the federal government to comply with conditions of the International Monetary Fund (IMF) loan programme.

Meeting participants noted that a revenue collection target of Rs388 billion was fixed for Punjab for the current fiscal year 2019-20, which was 44% higher than the previous fiscal year.

Published in The Express Tribune, October 15th, 2019.
https://tribune.com.pk/story/2079537/2-punjabs-tax-collection-jumps-44/

Hashim Jawan Bakht is a dynamic and hardworking minister, I see a bright future for him in the province or the center. Govt of Punjab has no doubt improved its revenue collection, patched up many holes from where potential revenue was leaking out, particularly property tax. Even I received a property tax notice this year, we built this house in 2016 just 1 km away from cantt limits, building plan was approved from RDA and completion certificate too was obtained but we never received any notification for tax because no survey was conducted in our area for last 10 years or so my dads best buddy and cricket friend Ch Nisar's electoral area(he was from aitchison and my dad from F.C College team) . I don't mind paying the tax its peanuts and yet I felt happy about it.

The only grey area seems to be Mansoor Akhtar (oh sorry Usman Buzdar) background/confidence and authority in dealing with bureaucracy, I am a regular visitor to Secretariat and CM house good things are happening but since media is giving negative coverage people dont know yet.

Another factor is that they offered a discount on property tax if it is paid before certain dates and people have availed that discount, many people I know both in Lahore and rwp/Isl now have started to feel that it is their duty to pay taxes and taking a pride in it. I attend regular meeting of chamber of commerce and industry and FPCCI on behalf of my family business for the first time I have seen traders and industrialist both talking about the need to pay taxes. Not all of them but many of them and I am absolutely sure evaders will soon start feeling marginalized.

Don't pay any attention to whiners, they are never happy. All in all thing will start improving post coming monetary policy when SBP starts slashing the policy rates and once its comes into single digit, bang.

@Mangus Ortus Novem
Bhai positive Pakistan

 

[Baz]

Excellent news!!! Start imposing hefty fines for electricity theft, impose pollution tax, littering fines, illegal parking fines, traffic violation fines, illegal construction fines, etc....

Fine everyone and everything until people get their stuff together.

Two things will happen:

1) Government will make lots of revenue

2) corruption and petty criminal behavior on the population level will decrease significantly.

Completely agree, you are spot on. Just follow successful models that other countries have proved.

 

[war&peace]

Excellent news!!! Start imposing hefty fines for electricity theft, impose pollution tax, littering fines, illegal parking fines, traffic violation fines, illegal construction fines, etc....

Fine everyone and everything until people get their stuff together.

Two things will happen:

1) Government will make lots of revenue

2) corruption and petty criminal behavior on the population level will decrease significantly.

Well, only punishment won't work and it will rather backfire. People need to see that their tax money is rightly being used. You cannot impose littering fines until you provide adequate facilities and services for cleaning as well so it has to be carrot and stick policy.

 

[Jinn Baba]

Meeting participants noted that a revenue collection target of Rs388 billion was fixed for Punjab for the current fiscal year 2019-20, which was 44% higher than the previous fiscal year.

Excellent news!!!!!!

But I'm shocked that total tax collection from Punjab is only Rs. 388 billion is this only provincial taxes? Are further federal taxes collected?

 

[AZ1]

And patwaris were saying the govt failed in its goals.. well the statistics speak otherwise. Well done govt of Punjab.

They are mostly those who don't want to give tax.

 

[Kabira]

Excellent news!!!!!!

But I'm shocked that total tax collection from Punjab is only Rs. 388 billion is this only provincial taxes? Are further federal taxes collected?

This is provincial tax only. More needs to be done though.

 

[war&peace]

They are mostly those who don't want to give tax.

That's true...in fact it is somehow part of human nature ... everyone wants to keep his money to himself. But then the good people believe in the greater good of society. No govt can run without taxes and it should be obviously clear to every educated citizen. But some people do not want to share the responsibility and hence law and punishments are introduced by the society.

People should be able to see the tax as their investment in the govt that gives them the right to govern and keep a check on various govt officials.

Previous govt did a huge damage by relying on foreign aids and loans and letting people get away without paying the taxes. This has developed into a bad habit now and hence there's so much resistance... even many pro-PTI are not so happy. But the positive things is that there's a greater awareness among masses and most of the people are willing to pay the taxes. My experiences is that on the whole Pakistani nation is honest and good hearted and I'm not saying this to make someone happy rather this is my experience.

 

[AZ1]

That's true...in fact it is somehow part of human nature ... everyone wants to keep his money to himself. But then the good people believe in the greater good of society. No govt can run without taxes and it should be obviously clear to every educated citizen. But some people do not want to share the responsibility and hence law and punishments are introduced by the society.

People should be able to see the tax as their investment in the govt that gives them the right to govern and keep a check on various govt officials.

Previous govt did a huge damage by relying on foreign aids and loans and letting people get away without paying the taxes. This has developed into a bad habit now and hence there's so much resistance... even many pro-PTI are not so happy. But the positive things is that there's a greater awareness among masses and most of the people are willing to pay the taxes. My experiences is that on the whole Pakistani nation is honest and good hearted and I'm not saying this to make someone happy rather this is my experience.

I am not against the tax but I think PTi could gain much bigger if they introduce something like zakat gathering, donations, charity and then use this fund to create hospital for poors,school etc IK image is good and people in Pakistan spend alot in charities specially in ramadan month.
In everywhere people wants to avoid tax nd they do some pays other think its not a sin because tax system is purley human made. Previous govt gave nothing to public in return of their taxes as they say. So this may be thinking of majority who dont pay income tax.