FBR’s Tax Collection Meeting Revised Targets: Khurram

Islamabad: The Finance Ministry has refuted speculation about a tax shortfall, saying the revenue performance of the FBR is stable. In a statement, Advisor to the Finance Minister, Khurram Schehzad said the FBR’s tax collections are continuing as per the revised targets.

According to Radio Pakistan, Khurram Schehzad clarified that the impression of a tax shortfall of 864 billion rupees is being given on the basis of the initial target of 14,130 billion rupees, which is misleading. The revenue target was adjusted to about 13,000 billion rupees after changes in economic conditions.

The Advisor to the Finance Minister explained that the revision of targets due to inflation, imports, and changes in the global situation is a normal fiscal process. He highlighted that the FBR’s performance is strong, achieving 97 percent of the monthly target last month and 99.8 percent in the last 11 months.

Khurram Schehzad emphasized that commentary on fiscal matters should be based on current statistics and accurate data instead of old targets.