ISLAMABAD Following its tradition of missing revenue collection targets, the Federal Board of Revenue (FBR) has once again failed to achieve the monthly tax target, as tax authorities collected Rs 84 billion in July against the target of Rs 90 billion, sources told TheNation on Tuesday. According to the sources, the collection could exceed to Rs 85 billion in next couple of days, as the tax collection of far-flung areas are still in the pipeline, thus the shortfall would remain at Rs 5 billion in July. However, the revenue collection of July showed 12 percent growth if compared with Rs 75 billion collected in July 2009. After missing the revenue target in July 2010, FBR might also face problems in achieving the target of Rs 103 billion set for the ongoing month due to the law and order situation of Karachi and flash floods in most parts of the country. The FBR officials believed that due to one bad day in Karachi regarding law and order situation, they faced Rs 5 billion loss a day, as all economic activities halted in the city. Similarly, flash floods have also adversely affected the economic activities in the country, which would not only affect the collection of the ongoing month, but the overall annual tax collection target of Rs 1,667 billion could also become a serious challenge for the FBR. According to the sources, FBR collected Rs 19.5 billion as direct tax in July 2010, against the target of Rs 22 billion, while Rs 62 billion were collected as indirect taxes including General Sales Tax, Customs Duty and Federal Excise Duty.