ISLAMABAD: The Federal Board of Revenue (FBR) will achieve its first-quarterly (July-September) target of Rs1,609 billion for the current fiscal year as agreed with the International Monetary Fund.

“We have briefed Finance Minister Ishaq Dar over the measures to achieve the annual revenue collection target,” an official source in the FBR told Dawn on Thursday.

The meeting reviewed tax-wise performance and all those areas to be plugged to generate maximum revenue.

An official announcement said that Mr Dar visited the FBR headquarters and presided over a meeting on revenue performance. FBR Chairman Asim Ahmad and members of the board attended the meeting.

The FBR chief briefed Mr Dar about initiatives and issues currently faced in revenue administration. It was informed that targets for July and August had been achieved and the projection for the first quarter would also be met despite an economic slowdown due to floods, import contraction and shrinking of demand due to inflation as well as no sales tax on POL products.

Published in Dawn, September 30th, 2022