FBR fails to achieve fixed tax target

Chairman Federal Board of Revenue Suhail Ahmad said that FBR failed to reach the fixed tax target for the second time. The government has assured the International Monetary Fund (IMF) that a mini budget would be presented in case FBR could not reach the tax target. Talking to media in Islamabad, Suhail Ahmad said that the tax target of Rs 286 billion for first quarter while only taxes of Rs 81 billion were received in August, 2009. He said that load shedding and negative percentage of big industries progress were the main reasons for the failure of tax target. However, he said that FBR still can achieve the target of Rs 380.