FBR collects Rs277 billion n revenue in July 2019

KARACHI: With impressive growth in revenue collection on domestic front, the FBR has provisionally collected Rs277 billion in the first month (July 2019) against the desired target of Rs292 billion, witnessing a shortfall of Rs15 billion.

According to provisional data, the FBR collection fetched Rs277 billion in July 2019 against Rs251 billion, indicating that the Board collected Rs26 billion more in the first month of the current fiscal year compared to last year.

However, the FBR will have to collect Rs795 billion in next two months (August and September) in order to achieve quarterly target of Rs1072 billion under the IMF programme.

The success of IMF programme depends upon many factors but the performance of FBR in first quarter (July-Sept) will set the stage for approving the next tranche under 39 months Extended Fund Facility (EFF) of the IMF.

Chairman FBR Shahbar Zaidi said revenue collection on domestic front in shape of Income Tax, GST and FED had performed well in the first month of the current fiscal year.

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