LAHORE: The interim Punjab government has increased the budget estimates for 2018-19 for provincial tax bodies.
“Revenue generation by provincial government (tax and non-tax) has increased by 16% to Rs359 billion for 2018-19 compared to last year, whereas next year’s combined tax collection target is proposed to be increased by 29%.”
It has increased the tax collection targets for the Punjab Revenue Authority to Rs150 billion for 2018-19 against the revised estimates of Rs115 billion for 2017-18.
Similarly, the Punjab Board of Revenue and Excise and Taxation department’s revenue targets have been increased to Rs74.45 billion and Rs35.7 billion against revised estimates of Rs62.5 billion and Rs28.5 billion, respectively, for the corresponding period last year.
“Under Article 126 of the constitution, the caretaker cabinet can authorise expenditures of four months from the Provincial Consolidated Fund,” said Punjab Finance Minister Zia Haider Rizvi in a press briefing.
He said the basic mandate of the caretaker government is to conduct free and fair elections. “We are here to conduct elections so we are not going to impose any new taxes nor are we going to put any extra burden on the provincial exchequer,” he said, adding that in line with the federal government initiative, a 10% increase in basic pay would be made.
