The Senate’s standing committee on finance has ordered the FBR to justify why it failed to achieve the revenue target of Rs1.38 trillion set for fiscal 2009-10.
Special Secretary Iftikha-rullah Babar has sent a letter to chairman of the FBR, Sohail Ahmad, informing him that the committee would meet on July 30 where the chairman would be required to brief its members in detail about the failure to meet the target.
The FBR was also directed to send 25 copies of the working papers on revenue shortfall prepared during the preceding year to the secretariat of the committee before the meeting. These papers would enable the members to better understand the facts and questions would be posed accordingly.
Previous year’s collection target was missed by Rs67 billion as the government managed to collect Rs1.31 trillion in taxes during fiscal 2009-10.
Published in The Express Tribune, July 28th, 2010.
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