Chief Miniter (CM) Sardar Usman Buzdar-led Punjab government has registered a 44% growth to Rs77 billion of tax collection in the first quarter of the ongoing fiscal year, The Express Tribune reported.
According to the details, the Finance Department on Monday held a review meeting during which Finance Minister Makhdoom Hashim Jawan Bakht briefed the members about the performance of the provincial government.
The meeting was told that despite the financial backlog left by the previous government, the incumbent 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 also noted that a revenue collection target of Rs388 billion was fixed for Punjab for the fiscal year 2019-20, which was 44% higher than the previous fiscal year.
