Islamabad, Nov 29: The Federal Board of Revenue (FBR) is projected to miss its tax collection target by over Rs. 255 billion during the first five months of the current fiscal year.
For November, FBR is expected to fall short of its target of Rs. 1,003 billion by around Rs. 150 billion. Over the past four months, FBR has already recorded a shortfall of Rs. 102 billion.
While protests in the federal capital had minimal impact on overall revenue collections, tax receipts in Islamabad and Lahore have been adversely affected.
However, Karachi continues to be the largest contributor to FBR’s revenue pool.
Tax officials estimate that November’s collections will total around Rs. 850 billion, significantly below the monthly target.
The Federal Board of Revenue (FBR) faced a shortfall of Rs. 189 billion during the first four months (July-October) of the current fiscal year. Despite this, the FBR collected Rs. 3,443 billion in the first four months, up from Rs. 2,784.4 billion during the same period last year, reflecting a 25% revenue growth.
However, to meet its assigned target of Rs. 12,970 billion for the current fiscal year, FBR needs a 40% revenue growth. Under the IMF agreement, the government had envisaged a target of Rs. 12,913 billion, and with a projected shortfall of Rs. 230 billion during the second quarter (October-December 2024-25), the FBR faces significant challenges in achieving its fiscal goals.
