Islamabad: The Federal Board of Revenue (FBR) has missed its October 2024 tax revenue target by PKR 102 billion. Sources told Nukta that FBR collected around PKR 878 billion against the target of PKR 980 billion. This marks the second month in the current fiscal year that tax authorities have failed to achieve their monthly target.
In July 2024, FBR collected PKR 996 billion, surpassing the target of PKR 985 billion. In August 2024, however, the collection was PKR 782 billion, falling short of the monthly target of PKR 898 billion. In September 2024, FBR collected PKR 1106 billion, exceeding the target of PKR 1098 billion. Despite this, FBR missed the quarterly target by PKR 90 billion.
The overall revenue shortfall has now surged to PKR 192 billion over four months. The Pakistani government has agreed with the International Monetary Fund (IMF) to implement seven new taxation measures during 2024-25 if revenue collection falls short of the projected target by 1% in the current fiscal year.