ISLAMABAD: The Federal Board of Revenue (FBR) on Monday released revenue collection figures which suggested 30.4 % increase in revenue during the first 7 months of the on- going fiscal year over the same period of the last fiscal year..
The FBR announcement made here noted an additional collection of Rs 262 billion as collected revenue remained at Rs 3352 billion than the target of Rs 3090 billion for July – January 2021-22.
The FBR collection figures and upward trend in it suggested fast
growth in the economic activities in the country. The official handout claimed that FBR issued refunds of Rs 182 billion during the same period of the fiscal year. The FBR had released Rs 134 billion in refund during the same period of the last fiscal year.
Despite pressure on the economy in the corona pandemic, Pakistan’s economy is showing robust growth. It had resulted in pushing growth rate from mere 2 % to 3 % in 2020 to 5.37 % in 2021.
Pakistan”s industrial activities are also showing healthy trend after hiatus of over one decade. The slow down of Pakistan’s industrial activity had pushed it’s economy in a declining mode. Now after almost one decade , Pakistan’s economy is showing better result to generate new businesses and upward trend in earnings.
