In the FY 2023-24, SRB achieved a significant milestone in its revenue collection. During the year SRB has posted 27.8% growth in tax collection as compared to the previous year. The annual target was set to collect Rs. 235 billion for FY 2023-24, which it surpassed and collected record Rs. 236.8 billion, against collection of Rs.185.3 billion in previous year. It is noteworthy to highlight that SRB achieved substantive growth despite the devastating floods in Sindh, economic slowdown and no new taxes due to Sindh tax-free budget. SRB continues the mission of generating revenue for the people and for the prosperity of the province of Sindh. The top-ten service sectors made a substantial contribution, accounting for over Rs. 127 billion in overall collection of the SRB.
Ports remained the top revenue contributing sector with Rs. 33.67 billion collection followed by Telecom and Bank sectors, with Rs. 21.48 billion, Rs. 15.94 billion respectively. Franchise and Insurance sectors were next at Rs. 14.47 and Rs. 11.30 billion respectively. Contract Execution and Software & IT Consultants were next at Rs. 10.63 and Rs. 5.22 billion respectively, Franchise and Insurance showed a positive growth of 24.10% and 11.44% respectively.
In addition, Telecom Sector contributed Rs. 21.48 billion, recorded a huge 44.26% growth over last year. Goods Transportation Sector stood last with a growth of 3% during the FY 2023-24 and made it to top 10. Furthermore, there were total 27 sectors that contributed more than one billion to the total revenue collected as compared to 23 sectors in the previous financial year.
Sindh Revenue Board (SRB) Head Office, 3rd Floor, Shaheen Complex, M. R. Kiyani Road, Karachi.