Improved tax and non-tax collection during the first half July-December period of ongoing fiscal 2023-24

ISLAMABAD, Jan 30 (SABAH): Improved tax and non-tax collection during the first half July-December period of ongoing fiscal 2023-24, all forces provinces have received Rs.2435 billion compared with Rs.1880 billion as NFC Award share of the federal taxes, indicating an increase in provincial shares by Rs.527 billion.

According to the analysis of the Fiscal Operations Report, for July-December period of this fiscal year 2023-24, compared with July-December period of last fiscal year 2022-23. Tax revenues increased from Rs.3731 to Rs.4834 billion, projecting an increase of Rs.1103 billion. Similarly, the Non-Tax Revenues also increased from Rs.967 billion to Rs.2019 billion indicating an increase of Rs.1052 billion during the first half of the ongoing fiscal year 2023-24.   

Owing to increase in the provincial shares under NFC Award, the share of province of Punjab increased from Rs.936.1 billion to Rs.1189 billion, indicating an increase of Rs.Rs.252.9 billion during the first half of the ongoing fiscal year.

The provincial share of Sindh increased from Rs.469.1 billion to Rs.602.4 billion, indicating an increase of Rs.133.3 billion, during the first half of the ongoing fiscal year.

The share of the Khyber Pukhtunkwa increased from Rs.314.1 billion to Rs.405.9 billion during the first half of the ongoing fiscal year 2023-24.   

Likewise, the provincial share of balochistan have also witnessed an increase of Rs.77.6 billion in it NFC award share, it’s share has increased from Rs.160.5 Billion to Rs.238.1 billion.