ISLAMABAD: The Sindh Revenue Board (SRB) achieved its highest-ever revenue collection of Rs370.064 billion in fiscal year 2025-26, exceeding its target of Rs362bn by almost Rs8bn.

Revenue collection grew by 20.17pc from Rs307.930bn collected in the previous fiscal year, according to provisional figures released by the SRB on Wednesday.

The SRB is responsible for collecting sales tax on services, the Workers Welfare Fund, and the Sindh Companies’ Profits Workers’ Participation Fund, as well as agricultural income tax in the province.

The breakup of the collection showed that revenue under the Sindh Sales Tax (SST) reached Rs344.602bn in FY25-26, reflecting a growth of 21.2pc over the previous year’s collection of Rs284.377bn. This is the SRB’s primary source of revenue for which the board was established.

SRB collection under the Sindh Workers’ Welfare Fund (SWWF) and Sindh Companies’ Profits Workers’ Participation Fund (SWPF) increased to Rs24.435bn in FY25-26 from Rs22.253bn in the previous year, registering a growth of 10pc.

The collection of the newly assigned agricultural income tax also exceeded Rs1bn during FY25-26, but fell short of the target of Rs6bn for the year.

SRB Chairman Wasif Ali Memon said that the financial year ended on a strong note with the collection of Rs45.08bn in June — the highest collection in any month ever since its inception, which also marked 28.3pc growth compared to the collection of Rs35.15bn in May.

He further said that the SRB showcased an impressive performance, despite the factors like low economic growth and the adverse impact of the regional conflict on revenue collection during the latter half of the financial year.

Memon attributed the SRB’s performance to the “hard work and unwavering dedication” of its workforce, as well as support from the Sindh government and trust and cooperation by taxpayers.

The chairman said the SRB team was determined to accelerate the momentum of revenue growth in FY26-27 while meeting the challenges of broadening the tax base, enhancing voluntary compliance and accelerating digital transformation in tax administration.

In June, a day before presenting the Sindh budget for FY26-27, Chief Minister of Sindh Syed Murad Ali Shah directed major revenue-generating departments to strengthen collection mechanisms and improve fiscal efficiency to support the province’s development agenda.

The previous month, the federal government asked the provinces to increase their revenue contribution by at least Rs400bn, nearly 40pc of their existing share, in the new fiscal year through more effective collection strategies in agriculture, property and services in order to remain in the good books of the International Monetary Fund.