Federal Board of Revenue collects of around Rs. 785 billion

Islamabad, January 03, 2016 (PPI-OT): During the quarter October to December, 2015, according to the provisional figures received so far, FBR has made a net collection of around Rs. 785 billion, as against target of Rs. 750 billion fixed for the quarter. The net collection for the current six months stood at 1385 billion showing an increase of 19% from the corresponding period of the previous year. The target for the current quarter has therefore been surpassed by around 35 billion. The revenue collection trend during the quarter Oct-Dec, 2015 augurs well for the efforts of FBR towards achievement of the annual assigned revenue targets.

From July to September, 2015, FBR made a net collection of Rs. 600 billion as against target of more than Rs. 640 billion thus falling short by Rs 40 billion. During the current quarter, not only the assigned target of Rs 750 billion was achieved, Rs 35 billion was also recouped in respect of the shortfall of the previous quarter.

Finance Minister, Senator Mohammad 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.

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