ISLAMABAD: The Federal Board of Revenue (FBR) has successfully collected Rs770 billion in revenue as of November, according to GEO News. This leaves a gap of Rs345 billion during the first five months of the current financial year.
Despite all efforts put into improving tax collection, it is a principal concern affecting the yearly income targets, Rs233 billion from its assigned monthly target of Rs1,003 billion, presenting the tax authority with an uphill battle in achieving its financial goals.
Sources further revealed that it is expected that FBR will collect an additional Rs70-80 billion at the end of the month. However, from these efforts, total revenue is by now projected to be during the month at Rs850 billion-leaving a shortfall of Rs150 billion for November.
The economic experts have also stressed the need for improved revenue mobilisation strategies, which should help the government deal with these deficits that recur from time to time, thereby forming the basis for improved fiscal stability in the economy.
