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FBR collects Rs785b in Q2 against Rs750b target

FBR collects Rs785b in Q2 against Rs750b target

ISLAMABAD: Federal Board of Revenue (FBR) collected around Rs785 billion against the target of Rs750 billion fixed for the second quarter (October to December) of current fiscal year 2015-16.

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.

The net collection for the first six months of current fiscal year stood at Rs1,385 billion, showing an increase of 19 percent from the corresponding period of the previous year. From July to September, 2015, FBR made a net collection of Rs600 billion as against target of more than Rs640 billion thus falling short by Rs40 billion.

Finance Minister Ishaq Dar appreciated FBR’s performance, despite the challenges of reduced oil prices, drop in commodity prices and low inflation. The minister commended FBR on not only achieving the revenue target but also surpassing by a substantial margin.