FBR collects Rs1,617 billion in five months; shortfall increases by Rs206 billion

ISLAMABAD: The shortfall in revenue collection by Federal Board of Revenue (FBR) has soared to Rs206 billion during first five months (July – November) 2019/2020 making it more difficult for revenue authorities to achieve full year target of Rs5,550 billion.

As per the revenue collection till Friday evening, the FBR provisionally collected Rs1617 billion during July – November 2019/2020 as compared with the five – month target of Rs1,829 billion.

The FBR sources said that the provisional figures may increase to Rs1623 billion after finalization of collection.

However, the FBR achieved 17 percent growth in first five months by collecting Rs1617 billion when compared with Rs1383 billion in the corresponding months of the last fiscal year.

In the month of November 2019 the FBR collected Rs334 billion, which is 18 percent higher when compared with Rs282 billion in the same month of the last year.

The FBR also missed the monthly target for the month of November 2019, which was Rs381 billion.

It is worth mentioning here that the collection for fiscal year 2018/2019 had posted negative growth in 51 years.

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