ISLAMABAD, November 1, 2024: The Federal Board of Revenue (FBR) has reported a substantial shortfall in tax revenue, collecting Rs. 3,440 billion in the first four months of the fiscal year 2024-25, which is Rs. 192 billion below the target of Rs. 3,636 billion.
October’s collection alone missed expectations by Rs. 102 billion. Looking ahead, the FBR projects an additional shortfall of Rs. 230 billion for the October-December quarter.
In light of these deficits, the government is under pressure to introduce additional tax measures, as it has committed to the International Monetary Fund (IMF) to take action if revenue falls more than 1% below projections for the fiscal year.
