Daily Times

FBR has collected Rs. 9,306 billion in Financial Year 2023-24 against the target of Rs. 9,252 billion thereby exceeding the yearly target by a significant margin of Rs. 54 billion. The revenue is expected to further increase after reconciliation of figures. The growth in revenue collection is 30% as compared to the last year. This was possible due to historic collection throughout the current financial year. It is a striking fact that FBR has added Rs. 2,142 billion during the year as compared to the last year collection of Rs. Rs. 7,164 billion and Rs. 1,183 billion in the month of June 2024 alone. The target was achieved despite the fact that the imports were further compressed from $ 55 billion to $ 53 billion whereby all the shortfall was to be recovered from domestic taxes.