ISLAMABAD: Showing glaring performance, the Federal Board of Revenue (FBR) earned some Rs169 billion under two heads on electricity bills in the fiscal year 2017-18.
A revenue of Rs77 billion was collected from a surcharge levied on electricity bills while another amount of Rs99 billion was also collected from non-provision of fuel adjustment to the consumers using below the 300 units of power in a month during the last year.
Therefore, a source at FBR told Customs Today on Friday that the new government would have to be sensitive the immense contribution made by the FBR to the revenue collection as well as to the national economy.
The government will have to move towards the selective general tax collection from non-filers and unregistered potential taxpayers because any cut in the rate for bigger firms and lobbyists, sponsors to media and business and real estate tycoons will not allow FBR to perform.
Therefore, the new government will have to overcome the non-productive system, non-motivational tax system and non-supportive will not deliver.
The source said that for the improvement of basics, basic structure along with infrastructural expansion of FBR’s presence over non-presence areas, the government would be able to achieve hard economic targets otherwise the bowl of begging loans from the international monetary and financial institutions and friendly nations would never be broken. Once a nation is entangled by a web net of loans by the international financial institutions, the source said that that nation never becomes able to get rid of that web net unless it is dried of almost all the funds and gone to bankruptcy.