K-P close to meeting tax target for FY 2018-19


Minister (2k+ posts)

The provincial government has, for the first time, come close to achieving its tax target for a single fiscal year by collecting Rs41.08 billion thus far.

A source in the Khyber-Pakhtunkhwa (K-P) finance department told The Express Tribune that the provincial government had set a target of Rs41.46 billion for the financial year 2018-19 for provincial taxes.

The government has collected Rs23.11 billion for provincial taxes, the provincial government also raised Rs17.43 billion in other revenues to collect a total of Rs41.082 billion.

The source added that they were looking at surpassing the target and that next year’s target can be increased.

Fata funds share

The federal government has assured the provincial government of extending all possible support to fulfill the needs of the newly merged tribal districts of the province by reserving funds for it in the upcoming budget and the timely release of funds from the centre.

This was assured during a high-level meeting to review the social and economic needs of the erstwhile Federally Administered Tribal Areas (Fata). The meeting was chaired by Adviser to the Prime Minister on Finance Dr Abdul Hafeez Shaikh.

Khyber-Pakhtunkhwa (K-P) Finance Minister Taimur Jhagra briefed about the financial requirements of the merged district of the province.

He highlighted that the Fata development funds will be utilised for developing the social sector, particularly, health and education in the former tribal agencies.

Besides, road and electricity infrastructure in the area will be improved.

Dr Shaikh assured that the federal government will extend all possible assistance to the erstwhile Fata to fulfil its needs and support the province.

In its endeavours to work for the social and economic development of the merged districts Fata, the federal finance minister assured that the centre will release funds for the merged districts in a timely manner.

After considerable deliberation, the meeting agreed on allocating funds for merged districts in upcoming federal and provincial budgets for the fiscal year 2019-20 to fulfil the social and economic needs of erstwhile Fata on priority basis until the finalisation of National Finance Commission Award (NFC).