The Federal Board of Revenue (FBR) reported a revenue collection of Rs. 878 billion for October 2024, falling short of the assigned target of Rs. 980 billion by Rs. 102 billion. This marks the second month in the current fiscal year where the tax authorities have not met their monthly targets. For the first four months of the 2024-25 fiscal year, the FBR collected Rs. 3,440 billion, missing the target of Rs. 3,636 billion set for the July-October period by Rs. 196 billion.
The FBR anticipates a further shortfall of Rs. 230 billion for the second quarter (October-December) of 2024-25.
In light of these shortfalls, it is important to note that the Pakistani government has an agreement with the International Monetary Fund (IMF) to implement seven new taxation measures during the 2024-25 fiscal year if revenue collection falls short of the projected target by 1 percent.
