Gilgit-Baltistan Receives Record Tourist Revenue in FY 2023–2024
Gilgit: The Gilgit-Baltistan Finance Department reached a key milestone by collecting a record Rs3 billion in income during the July-March period of the current fiscal year 2023-2024.
According to Gilgit Baltistan Finance Secretary Aziz Ahmed Jamali, the success is the outcome of a multi-faceted plan targeted at producing revenue from a variety of industries such as tourism, power, minerals, and so forth.
This program is part of a larger effort to make the territory financially self-sufficient, as the Gilgit Baltistan administration currently relies on the federal budget to cover its current and developmental costs.
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Jamali noted that the department’s revenue collection increased by 46% over the same period previous year.
He also emphasized continuing initiatives to improve efficiency through digitalization of income receipts, which are being carried out in conjunction with the State Bank of Pakistan and 1-Link.
Furthermore, Mr. Jamali noted that the current fiscal year has already saved Rs500 million due to notable recoveries, mainly in the power sector, and cost-cutting initiatives like the reallocation of 115 official cars, including luxurious land cruisers.
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