GB raises record Rs3bn in July-March

GILGIT: For the first time, the Gilgit-Baltistan Finance Department collected a record Rs3 billion in the July-March period of the current fiscal year.

GB Finance Secretary Aziz Ahmed Jamali told on Monday that a multi-pronged strategy has been developed to generate revenue from tourism, power, minerals and other sectors.

The efforts aim to make the region financially self-sufficient since the GB government relies on the federal budget to meet its current and development expenditures.

He said the department recorded a 46 per cent increase in revenue collection over the same period last year. “Another effort towards efficiency is the digitalisation of revenue receipts, which is being done in collaboration with the State Bank of Pakistan and 1-Link,” he said

“Massive recoveries, especially in the power sector and reduction in costs whereby reallocating 115 official vehicles including luxury land cruisers saved Rs500 million so far this fiscal year, Mr Jamali said.