ISLAMABAD (Dunya News) – The Federal Board of Revenue (FBR) has missed its revenue collection target for the fiscal year 2024-25 by a hefty margin, falling well short of its original and revised goals, sources revealed on Monday.
According to insiders, the FBR faced a shortfall of Rs1,470 billion against its initial target of Rs12,977 billion.
Even after the target was revised twice, the tax authority couldn't catch up.
The first revised target stood at Rs12,332 billion, which still left a gap of Rs832 billion. The second revised target, later brought down to Rs11,900 billion, also seems out of reach.
“By the time offices closed yesterday, FBR had collected only Rs11,280 billion,” a source said. “To meet even the second revised target, the board would need to pull in Rs620 billion in a single day, which is practically impossible.”
Given the pace of collections and the last-minute scramble, the FBR is now expected to wrap up the fiscal year with around Rs11,500 billion, officials estimate.
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This marks another blow to the government’s fiscal plans as it struggles to bridge the gap between revenue and expenditure.
With the IMF watching closely and budgetary pressures mounting, the failure to hit tax targets could come back to bite the federal administration.
FBR has not officially commented yet, but the shortfall is likely to raise eyebrows among policymakers and financial watchdogs.