KARACHI: The provincial authorities collected Rs 283.3 billion in fiscal year 15-16 as compared to Rs 205.8 billion in FY14-15, showing 37 per cent growth.
According to State Bank of Bank (SBP), the provinces collected Rs 77.5 billion more amount during the corresponding period against the previous year.
Punjab posted a huge growth of 45 percent to Rs 142.9 billion tax during FY16 compared to Rs 98.1 billion in FY15. With an increase of 31 percent, Sindh tax collection reached Rs 123 billion end of last fiscal year. While KP’s revenue increased to Rs 13.1 billion from Rs 11.4 billion and Balochistan collected Rs 4.3 billion, up by 65 percent.
During the period under review all provincial taxes witnessed upward growth. However, the bulk of revenues were collected from GST on services, in which Sindh and Punjab recorded notable improvements. GST on services, with largest share in overall provincial tax collection, posted a healthy growth of 24 percent or Rs 25 billion to reach Rs 129.8 billion end of FY16 up from Rs 104.7 billion in FY15.
With 20 percent growth, collection under the stamp duties and motor vehicle tax surged to Rs 35.5 billion and Rs 19.1 billion respectively. While, provinces’ excise duties collection increased by 15 percent to Rs 6.9 billion end of the last fiscal year. On expenditure side, the consolidated provincial expenditures grew by 13.3 percent in FY16. All provinces’ total expenditures reached Rs 2.152 trillion end of FY16 compared to Rs 1.899 trillion in FY15, showing an increase of Rs 253.3 billion.
With 11 percent growth, current expenditures mounted to Rs 1.560 trillion end of FY16 up from Rs 1.400 trillion in FY15. Similarly, development expenditures increased by 19 percent or Rs 94 billion to Rs 592.4 billion end of last fiscal year.
