Federal Minister for Finance Dr Abdul Hafeez Shaikh said on Saturday the revenue collection had registered 25 percent growth during the first 10 months of the current financial year (2011-12) as compared to the last year. “If the trend continues, the revenue target of Rs.1952 billion is expected to be achieved by the end of current financial year”, he told journalists after attending a convocation of Iqra University here. He said the budget for next financial year would be announced on June 1. The Finance Minister said the General Sales Tax on services, whether collected by the provinces or by the Federal Government, is the right of former. Replying to another question, the Minister said the United Kingdom (UK) has announced a financial assistance of 1.4 billion pounds for next four years to Pakistan.
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