SRB posts 21% growth in annual revenue collection

KARACHI: The Sindh Revenue Board (SRB) has registered an increase of 21 per cent in its revenue collection for the fiscal year 2020/21, despite adverse economic conditions due to the coronavirus pandemic.

The revenue board collected Rs128 billion during the fiscal year 2020/21, compared with Rs106 billion in the preceding fiscal year, a senior official said on Thursday.

The official said the growth in the revenue collection is impressive, considering the general economic slowdown and the resurgence of Covid during the year. The Sindh Revenue Board; however, missed the revenue collection target of Rs135 billion for the fiscal year under review.

The official said the collection of Rs128 billion includes record receipts of Rs121 billion under the Sindh sales tax, representing a growth of 21 per cent over the collection of Rs100 billion during 2019/20.

The collection of Sindh Workers Welfare Fund by the provincial revenue board during 2020/21 stood at Rs7 billion, compared with the collection of Rs6 billion during the preceding year, representing a growth of 17 per cent.

The official said the milestone that the SRB had achieved represented a consistency of achievements since the organisation’s inception in 2011, courtesy to the hard work and steadfastness demonstrated by the workforce beyond the normal call of duty.

The official said no new tax was levied in the Sindh Budget 2020/21. The business environment was also significantly unfavourable for the services sector, which was hit hard by the Covid-19 throughout the year, forcing partial lockdowns.

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