Staff Reporter Islamabad
Federal Board of Revenue (FBR) has released the provisional revenue collection figures for the first eleven months of current fiscal year.
According to the provisional information, FBR has collected net revenue of Rs. 4,170 billion during Jul-May period, which has exceeded the target of Rs.3,994 billion by Rs. 176 billion.
This represents a growth of about 18% over the collection of Rs.3, 549 billion during the same period last year.
The net collection for the month of May was Rs. 386 billion, against a required increase of Rs. 214 billion, representing an increase of 69% over Rs. 229 billion collected in May 2020 and 168% of the target.
The year-on-year growth of 69% is unprecedented particularly as it is realized on the heel of 57% in April.
These figures would further improve before the close of the day and after book adjustments have been taken into account.
On the other hand, the gross collections increased from Rs. 3,674 billion during this period last year to Rs. 4,386 billion, showing an increase of 19.4 %.