FBR faces over Rs100bn revenue shortfall in August

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

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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.

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