ISLAMABAD, March 10: The outgoing chairman, CBR, Riaz Ahmed Malik on Wednesday said the CBR was Rs14 billion ahead of its target upto February 2004 and it was hoped that by the end of the current financial year this increase would possibly cross the figure of Rs18 billion.

Speaking at farewell reception held in his honour at National Auditorium here on Wednesday Mr Malik said: "I am optimistic that CBR will easily achieve Rs510 billion revenue target set for the current financial year."

He said that revenue performance in 2002-03 was historic because according to him never before the initial revenue target was actually achieved by the CBR. The growth was 14 per cent over 2001-02. Pakistan's revenues crossed Rs10 billion mark in 1974-75 and Rs100 billion mark in 1989-90.