Revenue collection in KP low: adviser

PESHAWAR: A consultative meeting was held at the Sarhad Chamber of Commerce and Industries (SCCI) ahead of the upcoming budget.

The meeting was attended by Adviser to Chief Minister for Finance Muzzammil Aslam, Provincial Minister for Excise Mian Khaliqur Rehman, Special Assistant to CM for Industries Abdul Karim Khan, Secretary Excise Khalid Ilyas, Director General Khyber Pakhtunkhwa Revenue Authority (KPRA) Fauzia Iqbal, Additional Collector Abdur Razzaq khan and officials from the Revenue department.

The office-bearers of the Sarhad Chamber of Commerce and Industries, along with traders, industrialists, and investors, participated in this special consultative meeting.Finance Adviser Muzzammil Aslam stated that Khyber Pakhtunkhwa is financially dependent on the federal government for 93 percent of its budget, and the province itself collects only 7 percent of its total revenue.

He noted that revenue collection in Khyber Pakhtunkhwa is lower compared to other provinces.The adviser said that the provinces were under pressure from the International Monetary Fund (IMF), and Khyber Pakhtunkhwa had increased both tax and non-tax revenues in the current fiscal year.

He announced that Rs 2 billion had been released for the Peshawar Safe City Project and assured that all legitimate concerns of traders and industrialists would be addressed.Muzzammil Aslam said last year, the property rental tax was reduced from 16 per cent to 10 per cent and taxes on educational institutions had been fixed at a very low rate.

Similarly, the property transfer tax was brought down from 6.5 percent to 3.5 percent and vehicle registration fees in Khyber Pakhtunkhwa were lower than in other provinces.The adviser mentioned that an amnesty scheme was under consideration to reduce outstanding dues on factories before 2020.

He added that every possible support would be extended to provide better facilities to traders and industrialists, and some of their issues are already being resolved on the spot.Provincial Excise Minister Mian Khaliqur Rehman said a universal number plate scheme had been launched for vehicle registration, and every Tuesday would be observed as Open Day by the Secretary Excise, during which public issues will be addressed. He stated that legal action would be taken against officials who unjustly harass traders and industrialists.