FBR Falls Short of Revenue Collection Target During First Half of FY25

The Federal Board of Revenue (FBR) has suffered massive shortfall in revenue collection during the first six months of the current fiscal year (FY25).  According to provisi­on­­al figures released on Tu­­esday, the shortfall for the period stands at Rs. 386 billion resulting in collection much less than the assigned target of Rs. 6,009 billion for this period.  FBR has collected Rs. 5,623 billion in six months of FY25 against the assigned target of Rs. 6,009 billion for this period.  According to details, the tax department has collected Rs. 1,326 billion in December 2024 against the assigned target of Rs. 1,373 billion, translating to a gap of a gap of Rs. 47 billion in tax collection.  It is pertinent to mention here that government set a lofty tax collection target of Rs. 12,913 billion for FY25, a 40 percent increase from FY24, which now seems like an uphill task.