ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs3,957 billion during the fiscal year 2019-20, which was Rs50 billion more than the revised target of Rs3,907 billion.
According to the FBR spokesperson, the department collected Rs411 billion in June 2020, as against the target Rs398 billion. “The FBR managed to collect Rs4 trillion gross revenue for the first time in the country’s history, which is commendable,” he added.
It is pertinent to mention that the government had originally set the FY20 revenue target at Rs5.55 trillion. However, it was revised downward after the first review of Pakistan’s economy by the International Monetary Fund (IMF).
Meanwhile, following the second review by the IMF in February this year, the collection target was further revised downwards to Rs4.80 trillion.
As coronavirus had crippled the country’s economy post March 2020, the revenue target was again revised to Rs3,907billion.
It may be noted that during the last year, former FBR chairman Shabbar Ziadi had gone on indefinite leave due to bad health and did not return to the office. The government had then appointed Nausheen Javed Amjad, a grade-22 officer of Inland Revenue Service, as FBR chairperson in May this year.