KARACHI, July 1: The total revenue collection for July-June 2001-02 will surpass Rs400 billion mark.

This was stated by member (direct taxes) and spokesman of Central Board of Revenue, Wakeel Ahmed Khan while talking to APP here on Monday. He said that total collection for 11 months was estimated at Rs343.568 billion, and the revenue collection for June 2002 will cross Rs58 billion mark.

“By the time, total collection figures will be received by the CBR from all the regions in the country, the revenue will stand at about Rs401.5 billion for the entire year,” Khan observed.

Giving the break-up for June 2002 collection, the CBR member said that about Rs22.5 billion are to be collected under income tax or direct tax, Rs20bn through sales tax, Rs9bn under customs and Rs6bn under central excise.

He said the CBR collected about Rs117.4bn under the income tax during July-May 2001-02, while Rs143bn through sales tax, and Rs34bn and Rs49.16bn under customs and central excise, respectively.

To a question about the revenue target set by the government for the current fiscal year, Khan said that it was Rs414bn and quoted the finance minister saying that if the CBR could collect Rs400bn, the government would be more than satisfied.