The Federal Board of Revenue (FBR) has reported a significant shortfall in its revenue collection for the fiscal year 2024-25, failing to meet its ambitious targets. According to sources, the FBR’s original revenue target was set at Rs. 12,977 billion, but it is currently facing a staggering shortfall of Rs. 1,470 billion.

Despite a first revision of the target to Rs. 12,332 billion, the FBR still encountered a shortfall of Rs. 832 billion. Furthermore, sources within the FBR indicate that the board did not meet its second revised target of Rs. 11,900 billion, resulting in an additional shortfall of approximately Rs. 400 billion.

As of the end of business yesterday, the FBR had collected Rs. 11,280 billion. For today, the board has set a target of collecting Rs. 620 billion, but sources suggest that the total revenue collection for the current fiscal year is likely to reach only Rs. 11,500 billion.