Tax collection: FBR faces revenue shortfall of Rs200 billion
FBR has originally set a target of Rs2.381 trillion for fiscal year 2012-13.
The fiscal year is due to end on June 30. PHOTO: FILE
ISLAMABAD:
The Federal Board of Revenue (FBR) is likely to miss its tax collection target by Rs200 billion, reported Express News on Wednesday.
The shortfall comes at a time when government is struggling to overcome a crippling energy crisis mainly because it does not have funds to pay for the fuel.
FBR has originally set a target of Rs2.381 trillion for fiscal year 2012-13, which ends June 30.
In face of the shortfall in revenue collection, the government had been borrowing heavily from commercial banks to meet its expenses.
Power subsidies and ailing state-run corporations have added pressure on government's finances, officials said.
The Federal Board of Revenue (FBR) is likely to miss its tax collection target by Rs200 billion, reported Express News on Wednesday.
The shortfall comes at a time when government is struggling to overcome a crippling energy crisis mainly because it does not have funds to pay for the fuel.
FBR has originally set a target of Rs2.381 trillion for fiscal year 2012-13, which ends June 30.
In face of the shortfall in revenue collection, the government had been borrowing heavily from commercial banks to meet its expenses.
Power subsidies and ailing state-run corporations have added pressure on government's finances, officials said.