FBR falls short of revenue target by Rs99bn in first two months of FY25

The Federal Board of Revenue (FBR) fell short in the revenue collection of the projected target by Rs99 billion during the first two months (July-August) of FY25. 

According to provisional figures released by the FBR, Rs1.455 trillion was collected in July-August, against a target of Rs1.554 trillion.

While the collection for July-August marked a 20% YoY increase from Rs1.212 trillion in the same period last year, this growth is below the 40% rate required to meet the annual target.

The government has set a collection target of Rs12.97 trillion for FY25, a 40% increase over the previous year. It is estimated that automated revenue collection will contribute Rs11.1 trillion of this amount.

In August, revenue collection rose by 18.8% to Rs796 billion, up from Rs670 billion in the same month last year. However, July’s revenue showed only a 22% increase, falling short of expectations.

The FBR estimates that new revenue measures will generate up to Rs2 trillion in FY25. 

Last year, the FBR collected Rs9.285 trillion, slightly surpassing the revised target of Rs9.252 trillion but falling short of the original target of Rs9.415 trillion.