FBR collects Rs 785b in second quarter

 

ISLAMABAD: 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 second quarter October to December 2015.

The net collection for the first six months of current fiscal year stood at Rs 1,385 billion, showing an increase of 19% from the corresponding period of the previous year. The target for the second 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, said a statement issued on Sunday.

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 second quarter, not only the assigned target of Rs 750 billion was achieved but Rs 35 billion was also recouped in respect to the shortfall of the previous quarter. Finance Minister Ishaq Dar appreciated FBR’s performance despite the challenges of reduced oil prices, drop in commodity prices and low inflation.

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