FBR currently Rs44bn short of March collection target

By MG News | March 30, 2024 at 06:08 AM GMT+05:00

0:00

March 30, 2024 (MLN): The Federal Board of Revenue (FBR) has collected Rs835 billion as of March 29, 2024, around Rs44bn short of its monthly target.

It is worth highlighting here that the International Monetary Fund (IMF) had given a target of Rs835bn to be collected in March 2024.

To bridge this gap, banks have been authorized to open on Saturdays and Sundays, which are the last two sessions available.

Expectations are such that this change will likely catch up the difference between the collected amount and the target.

To recall, the central bank on Thursday extended banking hours till 4:00pm on Saturday, March 30, 2024, and Sunday, March 31, 2024, for collection of taxes through Alternate Delivery Channels (ADC’s) Over-the-Counter facilities.

Meanwhile, on a cumulative basis, the revenue collection of FBR still remains on track as the board has collected around Rs6.707 trillion during the period from July to March 2024 (8MFY24), Rs41bn higher than the set target of Rs6.666tr.

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