ISLAMABAD - The FBR has constituted a team to analyse actual revenue losses occurred due to law and order situation in Karachi and shutter down strike in Lahore.

The decision was taken in a meeting that reviewed revenue collection situation during ongoing financial year 2011-12. The meeting was chaired by the Chairman FBR Mumtaz Haider Rizvi. Official sources in FBR told The Nation that government had faced some Rs 20 to Rs 25 billion revenue loss due to current poor law and order situation in business hub of the country. Due to said revenue shortfall, the FBR had missed revenue collection target of Rs 187 billion in the month of March as it collected only Rs 162 billion during last month, sources added. On the other hand, sources further told that FBR has collected Rs 1,285 billion during the first nine months (July-March) of the ongoing fiscal year 2011-12. Today’s meeting reviewed strategy how to collect Rs 667 billion in the remaining three months (April-June) in order to meet revenue collection target of Rs 1,952 billion.

According to official handout of FBR, during day-long meeting, a threadbare analysis of the performance of each LTU and RTO during March 2012 was made. Strategies were developed to ensure that the RTOs and LTUs with below-par performance meet the revised revenue targets for the month of April without fail. The significance of collection of outstanding arrears through necessary enforcement recourses was highlighted during the meeting. A team was set up to analyse and report the extent of revenue setback due to law and order situation in Karachi as well as shutter-down strike in Lahore. The Chairman also directed the field formations to remain open on every Saturday of the month, till 30th June 2012, in order to facilitate trade and business community who has suffered huge business losses during week-long agitation resulting in business closures in Karachi and some parts of Punjab, especially Lahore.

The meeting was attended by Shahid Hussain Asad Member (IR), Ms Riffat Shaheen Qazi Member (FATE), Raza Baqir Member Admin, Ms Azra Mujtaba Member (SP&S), Riaz Khan DG (I&I-Customs) and Nisar Muhammad Chief Collector (North) as well as representative of I&I (Direct Taxes) and GM PRAL.