The Federal Board of Revenue (FBR) has failed to achieve the revenue collection target for the first month of the current financial year.
According to details, the FBR collected Rs 124 billion against the target of Rs 140 billion for the month of July 2013, thus suffering a deficit of Rs 16 billion.
The prime tax collection agency does not consider it as a good beginning.
The FBR collected Rs 117 billion during July 2012.
Sources said the FBR could achieve an increase of only 14 percent in the tax collection despite a one percent increase in the sales tax.
