Business
FBR faces shortfall of Rs116bn in monthly tax collection
This huge shortfall in just one month carries serious risks of mounting pressure on IMF to unveil mini-budget in the coming months
Islamabad: The Federal Board of Revenue (FBR) is facing a revenue shortfall of over Rs116 billion to achieve the monthly tax collection target for August 2024.
This huge shortfall in just one month carries serious risks of mounting pressure on the International Monetary Fund (IMF) to introduce additional fiscal measures through the unveiling of a mini-budget in the coming months.
The overall fiscal framework, including reducing expenditure, particularly in the form of the Public Sector Development Program (PSDP), and taking additional measures of development expenditure and taxation, could be included on the IMF's main agenda, along with meeting external financing needs.
As against the fixed target of Rs898 billion for August 2024, FBR's provisional collection till Friday evening stood at Rs782 billion.