Punjab finance minister for enhancing revenue generation

LAHORE: Punjab Finance Minister Mujtaba Shuja-ur-Rehman Thursday emphasised the necessity of increasing the provincial resources to better serve the public.

Chairing Finance Committee for Resource Mobilisation for the Financial Year 2024-25 meeting, he highlighted the responsibility of citizens to contribute to the enhancement of public services by fulfilling their tax obligations.

He reaffirmed the government's commitment to delivering essential facilities to the public in return for their contributions. The minister advocated for a prudent approach to taxation, stressing the importance of maximising the collection of existing taxes rather than introducing new levies. He emphasised the need to alleviate the burden on taxpayers and to combat tax evasion effectively. The minister articulated that the primary objective of tax collections is to alleviate the challenges faced by ordinary citizens. He urged for increased awareness among the public regarding the significance of tax contributions and called for the enhancement of revenue generation mechanisms.

The meeting was attended by provincial ministers and relevant officials. They deliberated on proposals for augmenting resources across various departments. The Additional Secretary Finance informed the participants of compiled suggestions for resource increases in key departments, including the Excise and Taxation Department, Board of Revenue, and Punjab Revenue Authority.

Proposals approved by the Resource Mobilization Committee will be integrated into the finance bill following endorsement from the Punjab Chief Minister and Cabinet. The committee will oversee the implementation of proposed measures and monitor departmental performance to ensure the attainment of revenue enhancement goals.

In concluding remarks, the minister directed officials to diligently pursue measures aimed at bolstering revenue streams. He urged the Secretary Excise and Taxation to finalise proposals for revenue increases to facilitate informed decision-making.