Lahore: The Punjab Revenue Authority (PRA) has surpassed the upward revised target of Rs165.5 billion for the financial year 2021-22.

According to provisional collection figures up to June 28, 2022, the PRA collection stands at Rs168 billion, which is 108 per cent of the set target of Rs155.9 billion and 101.5pc of the revised target.

According to the PRA spokesperson, the authority expects substantial revenue in the last two days of the financial year and is hoping to end the year close to Rs170 billion.

It is worth mentioning that earlier this year, PRA became the first provincial revenue collecting agency in the country to cross the psychological barrier of Rs150 billion and the collection in June has further established it as the leading Provincial revenue collecting agency in the country.

This is the third successive year in which PRA has surpassed its revenue collection target. Earlier the Authority collected more than the assigned targets of Rs.105 billion and Rs.125 billion in the financial years 2019-20 and 2020-21 respectively. 

PRA spokesperson further elaborated that this success has been achieved without resorting to any coercive actions such as sealing of premises, attachment of bank accounts or collection of advance payments.

PRA has relied completely on collaboration with all stakeholders and emphasis on taxpayer facilitation and education. More than 200 awareness workshops were held during the financial year with more than 2,000 participants. 

PRA expects the growth trend to continue in the coming years as its management and all workforce is committed to continuing its focus on compliance without resorting to any measures that adversely affect ease of doing business.

US Open champion Emma Raducanu crashed out of Wimbledon on Wednesday, losing her second-round match against Caroline Garcia 6-3, 6-3 to the disappointment of the British home crowd.

The 10th seed, who was troubled by a side strain in the run-up to the Grand Slam, was broken five times in the match on Centre Court by her French opponent, ranked 55 in the world.

Raducanu, 19, was on the back foot early in the contest after being broken in her first service game and won just 45 percent of points on her first serve.

Garcia, fresh from winning on grass at Bad Homberg, hit 25 winners in an impressive display.

"Emma is a huge player and in her home tournament and she proved she can do very well on the big stage," said Garcia.

"I really enjoyed playing on Centre Court, it was my first time and very special."

Raducanu has struggled with a string of minor injuries since her sensational win at Flushing Meadows last year.

She has also come under scrutiny over her failure to settle on a long-term coach.

SOURCE: AFP

Islamabad: The National Assembly (NA) on Wednesday passed the Finance Bill 2022, giving legal effect to budgetary proposals for the next fiscal year.

It was moved by Minister of State for Finance Aisha Ghaus Pasha.

Having a total outlay of 9502 billion rupees, the budget 2022-23 encompasses measures for sustainable economic growth, industrial and agriculture development and relief for the poor people.

The budget envisages Federal Public Sector Development Programme (PSDP) OF 800 billion rupees for the next fiscal year. It has been centered on improvement in sectors such as water resources, transport and communication, energy, higher education, health, science and technology, and balanced regional development.

699 billion rupees have been set aside for targeted subsidies to extend benefit to deprived segments of the society.

The budget of Benazir Income Support Program has been increased to 364 billion rupees.  In addition, 12 billion rupees have been allocated for the provision of subsidy on essential commodities through Utility Stores Corporation.

The salaries of government employees have been increased by fifteen percent along with a merger of adhoc allowances.

As regards taxation, the government has levied super tax on affluent class in order to reduce the budget deficit and take the country towards economic sovereignty.

Taking the floor, Foreign Minister Bilawal Bhutto Zardari said that the Pakistan Peoples Party (PPP) has always led the struggle for democracy, free and fair elections and  the economic rights of the people. He said his party strongly believes in transparent elections.

He said the PPP will also secure victory in the second phase of Sindh local government elections to be held in a month's time.