Islamabad, July 1, 2024 – Finance Minister Muhammad Aurangzeb praised the Federal Board of Revenue (FBR) on Monday for exceeding the tax collection target for the fiscal year 2023-24.
The commendation came during a meeting at the FBR Headquarters, where Finance Minister Aurangzeb, along with FBR Chairman Malik Amjed Zubair Tiwana and Board Members, reviewed the year’s revenue achievements. Minister of State for Finance and Revenue, Ali Pervez Malik, participated in the meeting via video link from Lahore.
In a statement issued by the FBR, Finance Minister Aurangzeb lauded the team’s remarkable performance in collecting Rs. 9,311 billion, surpassing the set revenue target. This achievement highlights the efficiency and dedication of the FBR in meeting the government’s fiscal objectives.
Aurangzeb expressed his confidence in the FBR’s capabilities and emphasized the Board’s crucial role in driving the government’s economic and fiscal policies. “The FBR’s success in exceeding the annual revenue target is a testament to its robust performance, despite facing numerous challenges,” he stated.
Minister of State Ali Pervez Malik also commended the FBR team for their outstanding efforts. He acknowledged the difficulties encountered throughout the year and applauded the Board’s resilience and commitment to surpassing the revenue goals.
To celebrate this significant accomplishment, Finance Minister Aurangzeb, accompanied by Chairman Tiwana and Board Members, participated in a cake-cutting ceremony. This gesture symbolized the collective effort and dedication of the FBR in achieving and exceeding the revenue collection target for FY2023-24.
The meeting highlighted the government’s ongoing commitment to strengthening the FBR and supporting its initiatives aimed at enhancing revenue collection, digitization, and economic documentation. Finance Minister Aurangzeb underscored the importance of these initiatives in ensuring sustainable economic growth and fiscal stability.
The FBR’s success in surpassing the FY24 tax target is seen as a positive indicator of Pakistan’s economic resilience and the effectiveness of its tax administration reforms. The government aims to build on this momentum by continuing to support the FBR’s efforts in improving tax compliance and broadening the tax base.
With the fiscal year coming to a close, the government’s focus remains on implementing strategic measures to further enhance the efficiency and effectiveness of the FBR. The emphasis on digitization and economic documentation is expected to play a pivotal role in achieving these goals, ensuring that the FBR remains a key driver of Pakistan’s fiscal policy.
As the country looks ahead, the government’s commitment to fiscal discipline and robust revenue collection remains unwavering. The FBR’s exemplary performance in FY2023-24 sets a strong precedent for future endeavors, reinforcing the importance of efficient tax administration in achieving economic stability and growth.