ISLAMABAD

The Federal Board of Revenue (FBR) has missed the revenue collection target for the first quarter (July to September) of the ongoing financial year 2015-2016 by Rs63 billion.
The FBR collected Rs584 billion during July-September of the current fiscal year as against the target of Rs647 billion. The revenue collection has shown growth of 8 per cent when compared with the tax collection made in the same period of the previous fiscal year when FBR had collected Rs541 billion.Shahid Hussain Asad, official spokesperson of the FBR, said that government had collected Rs253 billion during the month of September as against the Rs228 billion of the corresponding month of the last year, registering growth of 11 percent.
Sources in FBR informed The Nation that annual tax collection target of Rs3.3 trillion seems challenging for FBR after huge shortfall of Rs63 billion during first quarter of the present financial year. The PML-N government has already failed to collect required revenues in the first two years of its rule.