FBR faces over Rs100bn revenue shortfall in August

MG News | September 01, 2024 at 03:08 AM GMT+05:00

0:00

September 01, 2024 (MLN): The Federal Board of Revenue (FBR) is facing a revenue shortfall of over Rs100 billion for August, sources close to the matter revealed.

According to details, the revenue board has a target to collect Rs898bn, but as of August 30, with just one day remaining, it managed to collect only Rs790bn.

This reflects a massive shortfall of Rs108bn, which could complicate the approval of the $7bn loan tranche by the IMF Executive Board, a much-needed and highly anticipated loan for the country.

Sources further revealed that if the shortfall is not met, the government may be advised to introduce a mini-budget.

Additionally, the Prime Minister has requested a report on the shortfall from the Finance Minister and the Chairman of the FBR.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	188,380.39 423.53M	0.09% 177.53
ALLSHR	112,632.58 952.35M	0.19% 209.35
KSE30	58,032.20 111.39M	0.13% 75.72
KMI30	267,197.87 107.19M	-0.07% -177.46
KMIALLSHR	72,476.12 511.85M	0.16% 112.92
BKTi	53,757.31 35.30M	0.51% 271.34
OGTi	39,295.91 17.16M	0.97% 379.30

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	89,130.00	90,525.00 88,770.00	-260.00 -0.29%
BRENT CRUDE	68.33	68.53 67.12	0.76 1.12%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.35 -2.64%
ROTTERDAM COAL MONTHLY	98.50	98.50 98.50	0.00 0.00%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	63.17	63.52 62.07	0.78 1.25%
SUGAR #11 WORLD	14.72	14.87 14.67	-0.11 -0.74%