ISLAMABAD-Federal Board of Revenue (FBR) has assured Finance Minister Ishaq Dar to achieve the tax collection target in the current fiscal year.
Finance Minister Ishaq Dar has asked the FBR to enhance its efforts to achieve the true tax potential of the country. He made the remarks while chairing a meeting in Islamabad to review the performance of the FBR. Ishaq Dar extended his full support to the FBR in performance of its duties for revenue collection.
Chairman FBR Asim Ahmad gave a detailed presentation on revenue targets and performance of the FBR during the first nine months of current fiscal year. It was stated that the FBR would make all-out efforts to meet its revenue targeted in remaining months of current financial year. It is worth mentioning here that the Federal Board of Revenue (FBR) has faced huge shortfall of Rs304 billion during first nine months (July-March) of the current fiscal year(2022-23). The FBR has collected Rs5,156 billion in the first nine months of the current fiscal year as compared to target of Rs5,460 billion for July-March (2022-23), reflecting a huge shortfall of Rs304 billion. The FBR has provisionally collected Rs 663 billion in March 2023 as compared to Rs 573.6 billion March 2022, reflecting an increase of Rs 89.4 billion.
After the imposition of taxes of Rs 170 billion in the mini-budget, the new annual tax target of the FBR has been fixed at Rs7.640 trillion. According to provisional figures, the FBR collected Rs 663 billion in March 2023 against the target of Rs727 billion, reflecting a huge shortfall of Rs 64 billion. The FBR has collected Rs5,156 billion in the first nine months of the current fiscal year against Rs 4,375 billion collected in the same period of 2021-22, showing an increase of Rs 780.4 billion.
Chinese Charge d’Affaires
calls on Ishaq Dar
Chinese Charge d’Affaires Pang Chunxue called on Finance Minister Senator Mohammad Ishaq Dar here on Tuesday and discussed bilateral relations between the all-weather and time-tested friends, China and Pakistan. Highlighting deep-rooted historical bilateral relations between the two countries, Ishaq Dar commended the Chinese support for Pakistan and underscored the need for further deepening the existing ties in economic and trade as well as financial sectors. Ms. Pang Chunxue praised close and shared friendly relations between the two countries. She assured the finance minister of the continuous support of the Chinese government to the people of Pakistan. The two sides discussed bilateral relations between the two countries and avenues to enhance existing cooperation in multiple fields. Finance Minister Ishaq Dar appreciated Charge d’ Affaires Pang Chunxue for all the support and cooperation which Pakistan had been receiving from the leadership of China.