LAHORE: Tax collections were 19 percent higher during July-December 2015 when compared to last year as the tax collections were Rs 1,385 billion compared to Rs 1,172 billion, a report said.
According to report, the tax collection increased from $13.9 billion in 2013 to $15.8 billion in 2014 and $18.5 billion in 2015 showing the increase of 33 percent. During July-December fiscal 2015, the growth trend continued showing an increase of 6.3 percent, remittances received during this period $9.74 billion compared to $9.16 billion last year.
The agriculture credit has increased from Rs 336.2 billion in 2013 to Rs 391.3 billion in 2014 and Rs 515.9 billion in 2015 and the target for 2016 is Rs 600 billion.
The finance ministry said the income support programme increased from Rs 40 billion in 2013 to Rs 102 billion in 2016 showing an increase of 155 percent. The number of beneficiaries increased from 4.8 million in 2013 to 5.3 million in 2016.
The inflation that was averaged at 12 percent since 2008-13 has been contained to 8.62 percent in 2014 and further contained to 4.53 percent in 2015. This was the lowest in last 12 years and the trend is continued in 2016. During July-December 2016, CPI has been contained at 2.1 percent. The highest inflation was at 25 percent in October 2008.
