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Provisional figures for February stand at Rs162bn

Provisional figures for February stand at Rs162bn

ISLAMABAD: Provisional figures of revenue collection for the month of February have been reportedly estimated at Rs 162 billion. The target for the month was set at Rs 172 billion. This reflects a shortfall of Rs 10 billion.

Federal Board of Revenue’s net revenue collection figures reveal that so far Rs 1,363 billion during the period from July to February (2013-14) against Rs 1,162 billion in the corresponding period of last fiscal year, reflecting a growth of 17 per cent. However, revenue shortfall has crossed Rs 100 billion as the target for the net collection stood at Rs 1464 billion by the end of the month of February 2014.

The provisional collection during February 2014 stood Rs 22 billion more as compared to Rs 140 billion in February 2013. Sources said the net revenue collection is expected to cross Rs 165 billion in February 2014 after book adjustment and receipt of revenue figures from far-flung areas.

FBR has to collect Rs 1,112 billion in the remaining period of the current fiscal year for meeting the annual target of Rs 2,475 billion by the end of current fiscal year.