ISLAMABAD: Prime Minister Imran Khan has expressed confidence that the Federal Board of Revenue (FBR) will comfortably achieve the annual tax collection target of Rs5,829 billion.
In a tweet, the prime minister announced “good news on the tax collection” and said the FBR collected Rs850 billion during the first two months of current fiscal year, exceeding its own target figure by 23 percent.
He said this reflects growth of 51 percent in revenue over the same period last year. “At present rate, annual collection target of Rs.5,829 bn will be comfortably achieved,” he added.
Good news on tax collection. FBR collected Rs.850 bn during July & August 2021, exceeding its own target figure by 23% & reflecting growth of 51% in revenue over same period last yr. At present rate, annual collection target of Rs.5,829 bn will be comfortably achieved InshaAllah.
— Imran Khan (@ImranKhanPTI) September 1, 2021
Revenue collection in August
Chairman FBR Dr Ashfaq Ahmad has declared robust growth of 45 percent in revenue collection in the second month of the current fiscal year.
The revenue collection in August rose to Rs434 billion, an increase of 45 percent from last year’s figure of Rs300bn, according to the provisional figures released at a press conference.
He said collection rose by Rs85bn or 24 percent against the target set for the month. Between July and August, the revenue collection reached Rs849bn against the target of Rs690bn projected for the same months, which was surpassed by Rs159bn or 23percent.
The revenue grew by 41percent when compared with last year collection of Rs603bn during the same months.
The government had assured the International Monetary Fund (IMF) of raising Rs5.829 trillion in FY22 against Rs4.721tr collected in FY21.
The FBR chairman said that based on the performance of the first two months of current fiscal, he was optimistic to achieve the revenue collection target for the current fiscal.
