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Sindh revenue board records YoY 25pc surge in December

KARACHI: The Sindh Revenue Board (SRB) has shared Friday its data on collections of the preceding month noting a surge of 25 per cent in its revenue on year-on-year comparison, ARY News learned.

The December collections by the provincial revenue board stood at Rs11.75 billion which was 25pc more than the corresponding month last year.

The preceding year, this collection stood at Rs9.39 billion, the data noted.

On the other hand, SRB’s first six months in the tax year 2020, according to its data thus released, shows 16pc jump as well.

The first six months in the current financial year recorded Rs57 billion, as opposed to Rs49.2 billion in the same period last year.

SRB noted that it was due to its timely steps for amassing due taxes to meet targets that translated in 25pc jump in the collections.

It said in the notification that the target for the current year is set at Rs135 billion, while also noting that with an advent of the global pandemic, the business exhibited a slowdown.

READ: PSX welcomes new year with two-and-a-half-year high trade

Separately today, with arrival of the new year, Friday trade in Pakistan Stock Exchange (PSX) saw historic bullish attitude as the market jumped its two-and-a-half-year peak as the benchmark KSE-100 index closing at 44,434 points.

On the first day of new decade, KSE-100 recorded a 1.55pc surge in stocks taking market capitalization up by Rs95 billion.

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