PM commends FBR for historic 16% growth in revenue


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ISLAMABAD: Federal Board of Revenue (FBR) collected 3976 billion during July-April 2020-21 as compared to Rs. 3438 billion during July-April 2019-20, indicating an increase of 16 percent in gross revenue collection. 

The Prime Minister commended FBR for achieving 57 percent growth in revenue for the month of April. 

 

As per provisional information, the target for Jul-April period was Rs. 3637 billion in net revenue collection. The FBR managed to collect additional Rs. 143 billion, taking the net revenue collection to Rs. 3780 billion. As compared to last year, this indicates a growth of 14 percent during the same period. 

The growth in revenue collection is attributed to increased economic activity despite the COVID-19 pandemic. However, the net revenue collection decreased towards the end of April as control measures were tightened owing to COVID-19 increased infections. 

 

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Housing finance witnesses 36pc growth


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KARACHI: The State Bank of Pakistan (SBP) on Tuesday stated that housing finance has witnessed an unprecedented growth of 36pc during the 2020-2021 period.

According to the details, housing and construction finance has witnessed an increase of Rs54bn from June 2020 to March 2021. The portfolio in June 2020 stood at Rs148bn and increased to Rs202bn in 2021.

This marks a growth of 36pc in the first three quarters of Fiscal Year 2021 as compared to the stagnant growth in the same period last year.

As per SBP, housing finance is likely to grow in the future since mortgage finance is gaining momentum under Mera Pakistan Mera Ghar Scheme.

From April 2020, the general public has applied for housing finance for more than Rs52bn and applications of Rs15bn have been approved by various banks.

 

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