ISLAMABAD - Federal Board of Revenue (FBR) had missed the tax collection target by Rs 16 billion in the month of August, as it collected Rs 87 billion against the set target of Rs 103 billion, sources informed TheNation here on Tuesday. Israr Rauf, Spokesman of FBR, while talking to TheNation confirmed that they had collected Rs 87 billion in August 2010, however, he said these were provisional figures and final figures would come in the next few days. According to sources, target for the said month was Rs 103 billion, however, due the devastating floods in the country, the tax bosses were not able to meet the target and could achieve only Rs 87 billion so far. According to sources, not only devastating floods had affected the revenue collection target in August, but the unrest in the economic hub (Karachi) of the country, after the killing of local political leaders earlier this month, had halted the economic activities for around three days, that had also put negative impact on the revenue collection in the last month (August), sources further added. Due to one bad day in Karachi, FBR faces Rs 5 billion loss regarding tax collection. Sources were of the view that revenue collection was likely to be increased in the coming days following the compilation of final figures and it is expected that it could go up to Rs 90 to Rs 92b in the coming days after adding taxes of far-flung areas that were still in pipeline. It would be very difficult for the tax machinery to meet the target of Rs 103b fixed for August 2010. It is worth mentioning here that TheNation had already published a story on August 25 that FBR would not be able to meet the annual target in the month of August due to the unprecedented flash floods in the country that had affected the revenue collection of the FBR.