According to a tweet of Chairman FBR Shabbar Zaidi on Thursday, "FBR has collected Rs 320 billion during the month October 2019 and has maintained overall increase over last year of 16 percent and domestic tax over 25 percent. This is after taking into account negative aspect of import contraction of around Rs 50 billion."

Sources said that the FBR has provisionally collected Rs 320 billion during October 2019 against the monthly target of Rs 376 billion, reflecting a shortfall of Rs 56 billion.

The data of first quarter (July-September) 2019-20 revealed that against Rs 1,071 billion revenue collection target for the first quarter, Rs 963 billion revenue was collected which reflected a shortfall of Rs 108 billion, and was higher by Rs 132 billion over Rs 831 billion collected during the same period of the last fiscal year. During the first quarter of 2019-20, the import contraction was around US $3 billion. The effect of that was around Rs 125 billion.

Copyright Business Recorder, 2019