FBR faces Rs196bn shortfall in 4MFY25

Government assigns target of Rs12,913 billion for current fiscal year under the IMF agreement

By Mehtab Haider
November 01, 2024
A security guard seen walking in front of  the Federal Board of Revenue (FBR) office in Islamabad. — APP/File
A security guard seen walking in front of  the Federal Board of Revenue (FBR) office in Islamabad. — APP/File

ISLAMABAD: The Federal Board of Revenue (FBR) is facing a shortfall of Rs196 billion during the first four months (July-Oct). The FBR could collect Rs3,440 billion against the assigned target of Rs3,636 billion.

In October 2024, the FBR collected Rs877 billion against the assigned target of Rs980 billion, registering a shortfall of Rs103 billion. The FBR had faced a shortfall of Rs91 billion during the first quarter (July-September) of the current fiscal year.

The government assigned the target of Rs12,913 billion for the current fiscal year under the IMF agreement. The parliament approved FBR’s target at Rs12,970 billion for the ongoing fiscal year.

The FBR has collected Rs3,440 billion during the first four months of 2024-25 against the assigned target of Rs3,636 billion, reflecting a shortfall of Rs196 billion. The FBR is expecting a shortfall of Rs230 billion during the second quarter (October-December) 2024-25.

Meanwhile, on the direction of chairman FBR, all pending Sales Tax Refund Payment Orders of exporters of Rs32 Billion, processed up to 30th Sept, 2024, will be disbursed on November 1, 2024.