PACRA projects to earn K91m for treasury
By BUUMBA CHIMBULU THE Patents and Companies Registration Agency (PACRA) has projected to contribute over K91, 000, 000 to domestic revenue this year compared to the over K57, 000, 000 contributed last year.
PACRA assistant registrar, Christopher Mapani, said they expect to contribute K91, 690, 822.00 to the domestic revenue, saying between January and November last year, it contributed K57, 824, 202.
Mr Mapani explained that the projection was from the assumptions that all statutory fees would remain unchanged in 2018 and that the staff establishment would remain at 214 despite PACRA assuming additional mandates.
"The 2018 projected revenue stands at K91, 690, 822.00 and has some assumptions that no revenue is anticipated from copyright registrations as services do not currently attract any fees, revenue from sale of holograms is at K0.90, " 2,676 national registrations will be due for renewal between January 2 and December 31 2018, revenue from renewals will be slightly higher at K7,291,230 inclusive of patents and designs, " Mr Mapani said.
He was speaking when he appeared before a Parliamentary committee on budget in Lusaka.
Mr. Mapani said to foster compliance, PACRA would introduce an amnesty to enable non compliant businesses update their records without suffering any penalties.
He said revenue from international trademarks was estimated to be around K2, 500, 000 and that K1, 173, 000 could be collected from pending publications alone if a vigorous awareness campaign was mounted.
Mr Mapani said the projected 2018 income from 2, 500 publications stand at K1, 300, 000 inclusive of patents and designs and new trademark applications for 2018 were estimated to be around 2, 500 with estimated revenue to be collected of K2, 531, 665.
He said PACRA was implementing strategies and interventions to increase revenue collection including continuous system enhancement, decentralisation of services and partnerships with local authorities and mobile registration.
Mr Mapani said PACRA had not been able to publicise the online registration system adequately, instead, it had relied on external financiers in promoting the initiatives, adding that lack of operational motor vehicles was also affecting the operations.
"Adequate funding would restore PACRA’s ability to provide efficient services whose multiplier effect would be a broadened tax base and increased innovation for industrialisation and job creation," Mr Mapani said.