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Eid holidays: Exchequer likely to suffer Rs25-30b loss

Eid holidays: Exchequer likely to suffer Rs25-30b loss

ISLAMABAD: National exchequer may suffer Rs25-30 billion loss due to long holidays of Eid-ul-Fitr. Due to which revenue target of the first month of FY2014-15 could not be achieved.
Acting FBR Chairman Shahid Hussain Asad told Customs Today that closure of businesses during Eid holidays will certainly affect the revenue collection. “At least Rs 6 billion revenue is being collected daily in the month of July, however, we will try to achieve the revenue target of first quarter,” he added.
The government has announced four holidays of Eid, instead of three holidays, but it did not count it’s affects on economy. It is also a fact that the government employees would like to enjoy whole week holidays. But private sector’s work in these holidays will have less impact on revenue collection.
However, Shahid Hussain Asad is committed to achieve the revenue target of first quarter.