During the quarter, October to December 2015, according to the provisional figures received so far, the Federal Board of Revenue (FBR) has made a net collection of around Rs 785 billion, against the target of Rs 750 billion fixed for the quarter, said a press release issued on Sunday.
The net collection for six months stood at 1,385 billion showing an increase of 19 per cent compared to the corresponding period of the previous year. The target for the current quarter has, therefore, been surpassed by around Rs 35 billion. The revenue collection trend during the quarter Oct-Dec, 2015 augurs well for the efforts of FBR in achieving the annual revenue targets.
From July to September, 2015, FBR made a net collection of Rs 600 billion against the target of more than Rs 640 billion thus falling short by Rs 40 billion. During the current quarter, not only was the assigned target of Rs 750 billion achieved, Rs 35 billion was also recouped in respect of the shortfall of the previous quarter.
Finance Minister Senator Ishaq Dar appreciated FBR’s performance, despite the challenges of reduced oil prices, drop in commodity prices and low inflation. The minister commended the FBR on not only achieving the revenue target but also surpassing it by a substantial margin.
