September 29, 2007	Saturday	Ramazan 16, 1428

KARACHI, Sept 28: The Sindh Excise and Taxation Department has recovered Rs1.63 billion provincial taxes and levies during two months of July and August of the current fiscal year which is two per cent more than the proportionate target of this period.

“The government has fixed a total revenue collection target of Rs9.58 billion for the fiscal year 2007-08,’’ said Mr Mohammad Asif Marghub Siddiqui, in a presentation on Friday while pointing out recoveries seen in the last two months and the recovery

potential of the excise and taxation department and also of the economic progress in the

province.

In these last two months, the provincial government collected about Rs420 million of Motor Vehicle Tax, Rs271.47 million of excise tax, Rs846.33 million infra structure cess, Rs67.14m professional tax, Rs23.55 million hotel tax and Rs2.81m cotton cess.

Bank guarantees of Rs218.30 million have been offered in respect of infrastructure cess which denotes that total collection amounts to Rs1.85 billion in last two months.

In the year 2006-07, the department collected a total of Rs8.66 billion as against a target of Rs8.10 billion indicating that the department is on a fast track to exceed collection of target Rs9.58 billion in the current fiscal year. In addition, the department also collected Rs465.41 million property tax and Rs5.23 million entertainment tax.