GB Collects Record Revenue from Tourism in FY 2023-24

GB Collects Record Revenue

Gilgit: The Gilgit-Baltistan Finance Department has achieved a significant milestone by collecting a record Rs3 billion in revenue during the July-March period of the current fiscal year 2023-2024

According to Gilgit Baltistan Finance Secretary Aziz Ahmed Jamali, the achievement is the result of a multi-purpose strategy aimed at generating revenue from various sectors including tourism, power, minerals, and others.

This initiative is part of a broader effort to make the region financially self-sufficient, as the Gilgit Baltistan government currently relies on the federal budget to meet its expenses, both current and developmental.

Jamali stated that the department has recorded a remarkable 46% increase in revenue collection compared to the same period last year. He also highlighted the ongoing efforts towards digitalization of revenue receipts, undertaken in collaboration with the State Bank of Pakistan and 1-Link, to enhance efficiency.

Furthermore, significant recoveries, particularly in the power sector, and cost reduction measures, such as the reallocation of 115 official vehicles, including luxury land cruisers, have resulted in savings of Rs500 million so far in the current fiscal year, Mr. Jamali added.  For the latest Real Estate News and Blogs, visit Realtorspk blogs.

You may also like

Read More