FBR loses Rs45bn revenue as fuel consumption drops

KARACHI: The Federal Board of Revenue (FBR) said on Tuesday that any further drop in the price of fuel, consumption of which has already lowered to 50pc due to coronavirus, would aggravate the losses of the revenue board.

According to the FBR spokesman, fuel consumption in Pakistan was around 2,000 million litres, but due to coronavirus lockdown, the overall consumption has declined up to 50pc.

“We have suffered revenue losses of around Rs45 billion,” he said, adding that the government was lowering the fuel prices to facilitate the masses.

He informed that the pandemic had also affected FBR’s income tax collection during March 2020, dropping from Rs500 billion to Rs300 billion.

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“The income tax collection in the ongoing month will further decrease to Rs200 billion.”

Shedding light on the special package for the construction industry, the FBR spokesman said that they would not ask the source of income from anyone before December 31 this year.

On another query, he said that they had allowed the export of medical equipment to facilitate the global fight against coronavirus.


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