Amid COVID-19, FBR achieves revised tax collection target for 2019-20

[ps3linux]

Where have you been? Please pen some articles regarding Pakistan's economy. Really enjoyed my last convo with you.

Where is this value of 4.84tn coming from?

Also, even with no covid, I don’t see how this government could have achieved 5.5tn target.

Let me recover from the damn COVID19 and then I will contribute, with my confused mind right now it will be more gibberish.

I agree 5.5 trn would have been way too optimistic, most in the finance world did not agree with the figures but then again beggars are not the choosers, our finance people had to give in to IMF demands.

We unfortunately have become a country with a mafiotic culture, hurt the interests of one member of mafia and the the whole mafia will gang up on you. Its a fu***g rot, top to bottom and bottom to top.

Unfortunately I will go on with my rants with bureaucracy again, as a people we have always been slave of one regime or the other for like ever, we have always been commoners, this bureaucracy whose foundations were laid by the British was to ensure British rule, it was never meant to serve. Its predecessor the mughal era or before that had the same DNA to keep serving the interests of the rulers, hell with the populace. One of the reasons terms like "awaam" commoners still exist in our society whereas the educated society has done away with such derogatory words, its now fellow citizens.

 

[Jungibaaz]

Let me recover from the damn COVID19 and then I will contribute, with my confused mind right now it will be more gibberish.

I agree 5.5 trn would have been way too optimistic, most in the finance world did not agree with the figures but then again beggars are not the choosers, our finance people had to give in to IMF demands.

We unfortunately have become a country with a mafiotic culture, hurt the interests of one member of mafia and the the whole mafia will gang up on you. Its a fu***g rot, top to bottom and bottom to top.

Unfortunately I will go on with my rants with bureaucracy again, as a people we have always been slave of one regime or the other for like ever, we have always been commoners, this bureaucracy whose foundations were laid by the British was to ensure British rule, it was never meant to serve. Its predecessor the mughal era or before that had the same DNA to keep serving the interests of the rulers, hell with the populace. One of the reasons terms like "awaam" commoners still exist in our society whereas the educated society has done away with such derogatory words, its now fellow citizens.

Wish you a speedy recovery. I agree that it would be unrealistic to expect any government to achieve 5.5tn in this fiscal year, and with covid less than 4tn is completely understandable. At this time IK’s situation is completely unenviable imo, it’s literally between a rock and a few hard places.

On one hand covid will cause a recession even in nominal terms, in the other hand we have no fiscal space to respond. And while the IMF demands reduction of twin deficits, we have no space to tax more or expand revenue and require stimulus just to stop an already deep downturn. Honestly, I’d say IK is possibly one of the unluckiest PMs from the perspective of financial crises, two perfect storms he walked into which are beyond his control and now even beyond our ability to respond, the rest whatever his achievements or shortcomings are his own earning.

 

[niaz]

Has any previous gov achieved the tax target, revised or not revised?

Honorable Morpheus,

You are right when you refer to the period after the Musharraf era. However, I do remember GOP achieving up to 95% of the budgetary targets. But you say “Has any previous gov achieved the tax target, revised or not revised?”. In my opinion, a presumptuous statement, which implies that such a great deed was never achieved by any Pakistani gov't since 1947!

Despite living abroad for a long time, I try to keep abreast of Pakistan’s economic situation and I can refer you to the GOP Revenue yearbook. This is a 67-page report; I am quoting part of the Foreword:

Quote
The Federal Board of Revenue has successfully surpassed the assigned target of Rs. 835 billion for fiscal year 2006-07. This is the fifth consecutive year that the start-of-the-year-target has been accomplished. The buoyant tax collection has not only enabled FBR to surpass its target, it has also resulted into marked improvement in Tax/GDP ratio from 9.4% in 2005-06 to 9.7% in 2006-07. In fact, this is the 2nd consecutive year that the Tax/GDP ratio has increased by 0.3% per year, which is consistent with the ten-year revenue vision of the organization. Surely, the unprecedented outcome signals an improvement in the tax structure, which has become more responsive to growth and discretionary tax measures. The current edition of Revenue Division Year Book 2006-07, third in the series, presents an elaborate analysis of Goals and Targets assigned to FBR under the Prime Minister’s Goal/Target initiative. For FBR, Resource Mobilization has been at the top of the Goal/Target initiative list. Therefore, the volume provides a detailed analysis of tax collection. Unquote

http://download1.fbr.gov.pk/Docs/201012311112258781RevenueDevisionYearBooks.pdf


Regarding the comparative Revenue collection performance of PTI gov’t with the previous one. Here is an article by Ansar Abbasi, before the Corona crisis.

Chronology of tax collection in last 15 years

ISLAMABAD: Prime Minister Imran Khan and his party leaders were confident that people would pay more taxes during the PTI government but the last 15 years official data shows that the present fiscal year so far remains the worst in term of tax revenue growth in the country.

During the martial law of General Musharraf and the PPP and PML-N governments, which the PTI dub the most corrupt, were in place the tax revenue growth was several times better than what has been recorded during the first ten months of the present fiscal year.

While the revenue growth percentage for the first ten months of the present financial year is below 3 percent, this ratio has been considerably high during the last 15 years when even what the PTI called “corrupt” and “thief” (PPP and PML-N) were ruling the country.

Official data shows that the revenue collected by the FBR in the fiscal year 2003-2004 was Rs510.6 billion. This figure reached Rs3,842 billion in 2017-18. The target for the present fiscal year is Rs4,398 billion but by end April i.e. in the first ten months of the present fiscal year, the FBR collected Rs2,993 billion. The FBR was to collect Rs3,337.7 billion during July-April period of the current fiscal year.

It means the provisional shortfall so far has ballooned to Rs345 billion. According to the senior economic correspondent of The News Mehtab Haider, without moving ahead with tax amnesty scheme the maximum collection could go up to Rs3,940 billion till June 30, 2019. It means that the FBR is going to face massive shortfall in the range of Rs460 billion in the outgoing financial year.

In the last fiscal year, 2017-18, the FBR had collected Rs3,842 billion and this year it is expected to be around Rs3,940 billion, showing the revenue growth of around 2.5 percent.

Interestingly, the revenue collected of Rs510.6 billion during 2003-2004, rose to Rs590.4 billion during 2004-2005 with over 15 percent revenue growth. In year 2005-2006, the revenue collection reached Rs712.5 billion, in 2006-2007 it was Rs847.2 billion.

During the first financial year of the last PPP government- 2008-2009- the revenue collected grew from previous year’s Rs847.2 billion to Rs1,161.2 billion. It went further up to Rs1,328.6 billion during 2009-10, and touched Rs1,558 billion in 2010-2011. The FBR collected Rs1,883 billion during 2011-12 and Rs1,946 during 2012-13, which was the last fiscal year of the PPP government.

The PML-N government collected Rs2,255 billion in 2013-14; Rs2,590 billion 2014-15; Rs3,112 billion during 2015-16; Rs3,367.9 billion during 2016-2017 and Rs3,842 billion during 2017-18.

According to year book 2018 of the FBR, the overall FBR revenue collection during last five years had increased from Rs2,255 billion in FY 2013-14 to Rs3,842.1 billion in FY 2017-18. Five years’ average growth has been 14.6 percent.

Thus the 14.6 percent growth in revenue collection during the last PML-N government has come down to merely 2.5 percent. This has happened despite the PTI government’s claim that during their rule there is no corruption and no wastage of public money.

When contacted, a government functionary said that the way last government by the PML-N had devastated the economy the PTI government had to take tough measures, including steps against corruption in the country, and as a result tax collection was low. He said that the current economic situation will not last long as new team has been placed in to run the economy which is taking their work seriously.

He said that now the tax will be collected in time and tax net will expand as new filers will be identified by the tax machinery.

Prime Minister Imran Khan was of the view when the people will see that their rulers are honest and are not spending taxpayers’ money on their luxuries and protocol, they will trust the government and pay more taxes. Imran Khan had also promised that he would double the tax collection but it is not happening. Instead, the growth in revenue collection witnesses a historic nose-dive.

https://www.thenews.com.pk/print/469296-chronology-of-tax-collection-in-last-15-years


But the point here is not the amount of actual revenue collection or achieving the ‘Target’. My objection is that exceeding a thrice lowered target should not be portrayed as something to be cheered about.

The real problem here is that PTI leader made bombastic claims during the election campaign which were impossible to fulfill; without ever thinking that the public would compare their after election performance with these promises. Now PTI is now left with no option other than always trying to prove that Imran Khan Gov’t is performing better than the previous one. Reality being otherwise.

 

[Jungibaaz]

Honorable Morpheus,

You are right when you refer to the period after the Musharraf era. However, I do remember GOP achieving up to 95% of the budgetary targets. But you say “Has any previous gov achieved the tax target, revised or not revised?”. In my opinion, a presumptuous statement, which implies that such a great deed was never achieved by any Pakistani gov't since 1947!

Despite living abroad for a long time, I try to keep abreast of Pakistan’s economic situation and I can refer you to the GOP Revenue yearbook. This is a 67-page report; I am quoting part of the Foreword:

Quote
The Federal Board of Revenue has successfully surpassed the assigned target of Rs. 835 billion for fiscal year 2006-07. This is the fifth consecutive year that the start-of-the-year-target has been accomplished. The buoyant tax collection has not only enabled FBR to surpass its target, it has also resulted into marked improvement in Tax/GDP ratio from 9.4% in 2005-06 to 9.7% in 2006-07. In fact, this is the 2nd consecutive year that the Tax/GDP ratio has increased by 0.3% per year, which is consistent with the ten-year revenue vision of the organization. Surely, the unprecedented outcome signals an improvement in the tax structure, which has become more responsive to growth and discretionary tax measures. The current edition of Revenue Division Year Book 2006-07, third in the series, presents an elaborate analysis of Goals and Targets assigned to FBR under the Prime Minister’s Goal/Target initiative. For FBR, Resource Mobilization has been at the top of the Goal/Target initiative list. Therefore, the volume provides a detailed analysis of tax collection. Unquote

http://download1.fbr.gov.pk/Docs/201012311112258781RevenueDevisionYearBooks.pdf


Regarding the comparative Revenue collection performance of PTI gov’t with the previous one. Here is an article by Ansar Abbasi, before the Corona crisis.

Chronology of tax collection in last 15 years

ISLAMABAD: Prime Minister Imran Khan and his party leaders were confident that people would pay more taxes during the PTI government but the last 15 years official data shows that the present fiscal year so far remains the worst in term of tax revenue growth in the country.

During the martial law of General Musharraf and the PPP and PML-N governments, which the PTI dub the most corrupt, were in place the tax revenue growth was several times better than what has been recorded during the first ten months of the present fiscal year.

While the revenue growth percentage for the first ten months of the present financial year is below 3 percent, this ratio has been considerably high during the last 15 years when even what the PTI called “corrupt” and “thief” (PPP and PML-N) were ruling the country.

Official data shows that the revenue collected by the FBR in the fiscal year 2003-2004 was Rs510.6 billion. This figure reached Rs3,842 billion in 2017-18. The target for the present fiscal year is Rs4,398 billion but by end April i.e. in the first ten months of the present fiscal year, the FBR collected Rs2,993 billion. The FBR was to collect Rs3,337.7 billion during July-April period of the current fiscal year.

It means the provisional shortfall so far has ballooned to Rs345 billion. According to the senior economic correspondent of The News Mehtab Haider, without moving ahead with tax amnesty scheme the maximum collection could go up to Rs3,940 billion till June 30, 2019. It means that the FBR is going to face massive shortfall in the range of Rs460 billion in the outgoing financial year.

In the last fiscal year, 2017-18, the FBR had collected Rs3,842 billion and this year it is expected to be around Rs3,940 billion, showing the revenue growth of around 2.5 percent.

Interestingly, the revenue collected of Rs510.6 billion during 2003-2004, rose to Rs590.4 billion during 2004-2005 with over 15 percent revenue growth. In year 2005-2006, the revenue collection reached Rs712.5 billion, in 2006-2007 it was Rs847.2 billion.

During the first financial year of the last PPP government- 2008-2009- the revenue collected grew from previous year’s Rs847.2 billion to Rs1,161.2 billion. It went further up to Rs1,328.6 billion during 2009-10, and touched Rs1,558 billion in 2010-2011. The FBR collected Rs1,883 billion during 2011-12 and Rs1,946 during 2012-13, which was the last fiscal year of the PPP government.

The PML-N government collected Rs2,255 billion in 2013-14; Rs2,590 billion 2014-15; Rs3,112 billion during 2015-16; Rs3,367.9 billion during 2016-2017 and Rs3,842 billion during 2017-18.

According to year book 2018 of the FBR, the overall FBR revenue collection during last five years had increased from Rs2,255 billion in FY 2013-14 to Rs3,842.1 billion in FY 2017-18. Five years’ average growth has been 14.6 percent.

Thus the 14.6 percent growth in revenue collection during the last PML-N government has come down to merely 2.5 percent. This has happened despite the PTI government’s claim that during their rule there is no corruption and no wastage of public money.

When contacted, a government functionary said that the way last government by the PML-N had devastated the economy the PTI government had to take tough measures, including steps against corruption in the country, and as a result tax collection was low. He said that the current economic situation will not last long as new team has been placed in to run the economy which is taking their work seriously.

He said that now the tax will be collected in time and tax net will expand as new filers will be identified by the tax machinery.

Prime Minister Imran Khan was of the view when the people will see that their rulers are honest and are not spending taxpayers’ money on their luxuries and protocol, they will trust the government and pay more taxes. Imran Khan had also promised that he would double the tax collection but it is not happening. Instead, the growth in revenue collection witnesses a historic nose-dive.

https://www.thenews.com.pk/print/469296-chronology-of-tax-collection-in-last-15-years


But the point here is not the amount of actual revenue collection or achieving the ‘Target’. My objection is that exceeding a thrice lowered target should not be portrayed as something to be cheered about.

The real problem here is that PTI leader made bombastic claims during the election campaign which were impossible to fulfill; without ever thinking that the public would compare their after election performance with these promises. Now PTI is now left with no option other than always trying to prove that Imran Khan Gov’t is performing better than the previous one. Reality being otherwise.

Fantastic summary, I learnt a lot reading some of that info, was not aware tax collection growth was that high in previous years.

Honestly I don’t believe we’re engaging in unfair scathing criticism of the government here. We’re just responding to unrealistic claims and hype about their achievements.

A big increase in tax collection would not have been possible this year no matter who was in power. Economic constraints are real.

If it's no big achievement then why did your favorite Mian Saanp never manage to collect tax revenue of 4 trillion?

I could respond by saying that previous governments grew tax collection a lot more, but that would mean me comparing previous years of relative stability and no covid crisis and this year. That would mean I would be unfairly comparing different conditions in order to disparage your argument. But here I am not doing that and being honest in my criticism. Unlike you, I observe the facts and make up my mind and come to reasonable conclusion. Your analysis is that of partisan bickering.

So pls keep up and try to understand what’s being said before quoting me. Nowhere in this thread have I been unfairly critical of IK. In fact, I’ve been accommodative and honest, I’ve said that the failure to achieve higher tax collection is understandable given the economic circumstance.

Why is it every time I talk to you I have to painstakingly go over and explain these points I’ve already previously made?

 

[Syed1.]

Fantastic summary, I learnt a lot reading some of that info, was not aware tax collection growth was that high in previous years.

Honestly I don’t believe we’re engaging in unfair scathing criticism of the government here. We’re just responding to unrealistic claims and hype about their achievements.

A big increase in tax collection would not have been possible this year no matter who was in power. Economic constraints are real.




I could respond by saying that previous governments grew tax collection a lot more, but that would mean me comparing previous years of relative stability and no covid crisis and this year. That would mean I would be unfairly comparing different conditions in order to disparage your argument. But here I am not doing that and being honest in my criticism. Unlike you, I observe the facts and make up my mind and come to reasonable conclusion. Your analysis is that of partisan bickering.

So pls keep up and try to understand what’s being said before quoting me. Nowhere in this thread have I been unfairly critical of IK. In fact, I’ve been accommodative and honest, I’ve said that the failure to achieve higher tax collection is understandable given the economic circumstance.

Why is it every time I talk to you I have to painstakingly go over and explain these points I’ve already previously made?

Your whole argument is nullified by the fact that FBR was witnessing a tax growth of 17% before covid which is unprecedented for Pakistan and it was not led by taxes on imports as was the norm in your fav's government. Infact imports are plummeting yet tax collection is going up.

 

[Jungibaaz]

Your whole argument is nullified by the fact that FBR was witnessing a tax growth of 17% before covid which is unprecedented for Pakistan and it was not led by taxes on imports as was the norm in your fav's government. Infact imports are plummeting yet tax collection is going up.

I was not aware of that exact figure, if indeed IK’s government achieved 17pc growth pre covid in tax collection. Then it is very good thing, especially considering that growth had already slowed. Managing higher collection off the back of slower growth is an achievement in itself. But of course as I said the 5.55tn figure was very high and would not have been achievable even without covid.

I hope after covid his government achieves whole year fiscal targets, it would benefit us a lot.

And here, just a few posts above:

Wish you a speedy recovery. I agree that it would be unrealistic to expect any government to achieve 5.5tn in this fiscal year, and with covid less than 4tn is completely understandable. At this time IK’s situation is completely unenviable imo, it’s literally between a rock and a few hard places.

On one hand covid will cause a recession even in nominal terms, in the other hand we have no fiscal space to respond. And while the IMF demands reduction of twin deficits, we have no space to tax more or expand revenue and require stimulus just to stop an already deep downturn. Honestly, I’d say IK is possibly one of the unluckiest PMs from the perspective of financial crises, two perfect storms he walked into which are beyond his control and now even beyond our ability to respond, the rest whatever his achievements or shortcomings are his own earning.

@Syed1. you can see I’m being more than fair to the PM here. So please try to read what I have said before assuming I’m being biased etc.

 

[Morpheus]

You are right when you refer to the period after the Musharraf era. However, I do remember GOP achieving up to 95% of the budgetary targets. But you say “Has any previous gov achieved the tax target, revised or not revised?”. In my opinion, a presumptuous statement, which implies that such a great deed was never achieved by any Pakistani gov't since 1947!

What do the three govt have in common? They are all civilian gov. How about we compare all civilian terms with each other, you know same variables to compare. There is a reason i don't talk about Musharraf era when i compare stuff, cause that is not a same situation. So back to the same question, has any civilian gov achieved a target? I asked this, cause during Musharraf time, as the year was about to close, and there was a target short fall, FBR personal would work with rangers to collect taxes. Its was not gun point collection. Rather, just presence of Rangers reminded people who was in charge. Don't think we can do that today (it would be amazing if it happen)

But the point here is not the amount of actual revenue collection or achieving the ‘Target’. My objection is that exceeding a thrice lowered target should not be portrayed as something to be cheered about.

Since you don't live here, i will give you a picture of what FBR is like. Bunch of idiots who never do any work, and ever single one thinks he is in power. This was the situation in 2010 all the way up to 2018. Now you go their office, and you can actually get the information you need, and even file your records. All it took was shifting people from office (remember the shuffle). See there is a difference between what you read in the paper, and what is actually happening in real life.

The biggest step i would say, filing your taxes now is much easier then before. A person without any knowledge about tax can file them, through a app. A app that could have been made in 2012, yet it was introduced now. Even your refund are quicker. Before it would take you months, now it takes less then 30 days (got 2 people confirming this).

I know the UK tax system had lot of these stuff in place, but you need to know, we are still catching up. These small reforms to you might look like nothing, but here, they make a big difference. A 30 year old tax system is being updated. Its not gonna take weeks, its gonna take years. In the coming weeks you will see more reforms as well, which to you might look small, but here they make all the difference.

 

[313ghazi]

Let me recover from the damn COVID19 and then I will contribute, with my confused mind right now it will be more gibberish.

I went through that for a couple of weeks. I couldn't even concentrate on netflix.

 

[Shahzaz ud din]

According to year book 2018 of the FBR, the overall FBR revenue collection during last five years had increased from Rs2,255 billion in FY 2013-14 to Rs3,842.1 billion in FY 2017-18. Five years’ average growth has been 14.6 percent.

Thus the 14.6 percent growth in revenue collection during the last PML-N government has come down to merely 2.5 percent. This has happened despite the PTI government’s claim that during their rule there is no corruption and no wastage of public money

Disappointed.
A biased analysis

 

[Syed1.]

Don't listen to folks still longing for Nawaz Sharif to be PM.

https://twitter.com/x/status/1278367959866658817

 

[Dr-who]

Sir,

This is what is called a "SPIN" to the actual situation. Before PTI stalwarts jumping with joy; they should realize that the Revenue target had been revised downward 3 times since the 2019-2020 fiscal budget was announced last year.

Quote
It may be noted that FBR’s tax collection target had been revised downwards for three times in the current fiscal year, from the original target Rs5.55 trillion. It was first revised to Rs5,238 billion following the International Monetary Fund’s review of Pakistan’s Extended Fund Facility.

The tax target was further revised to Rs4,803 billion in February this year when the Pakistani authorities had apprised the IMF of impediments in tax collection.

It may be noted that FBR’s tax collection target had been revised downwards for three times in the current fiscal year, from the original target Rs5.55 trillion. It was first revised to Rs5,238 billion following the International Monetary Fund’s review of Pakistan’s Extended Fund Facility.

The tax target was further revised to Rs4,803 billion in February this year when the Pakistani authorities had apprised the IMF of impediments in tax collection.

Full article:

https://profit.pakistantoday.com.pk...372bn-in-june-to-meet-revised-revenue-target/

You keep reducing your collection target and when you achieve the reduced target you declare a great achievement!!!

It reminds me of an Urdu couplet.

Junoon ko khirad keh diya khirad ko junoon
jo chahey aapka husney karishma saaz karey.

Meaning you have termed madness as the intelligence and intelligence as madness. Your magical beauty can do whatever it desires.

Asad Umar himself used to say that tax target will be missed but there is no point in being afraid, we should dream big and try to achieve it.
If the tax target did come down, but overall tax collection is higher then before, so instead of playing politics one should actually be glad.

 

[niaz]

Don't listen to folks still longing for Nawaz Sharif to be PM.

https://twitter.com/x/status/1278367959866658817

Sorry Sir,

According to the official "2018-2019 Year Book of the Ministry of Finance yearbook, There was a 0.4% negative growth in Tax collection.

Quote

FBR Revenue Collection vis-à-vis Target FBR has collected Rs. 3,828.5 billion during FY 2018-19 against Rs. 3,843.8 billion during FY 2017-18 indicating a negative growth of 0.4%. The revised revenue target of Rs. 4,150 billion has been achieved to the extent of 92.3%. The direct taxes, sales tax, FED and customs missed their respective targets by 12.9%, 2.1%, 10.5% and 6.7% respectively. Unquote


http://download1.fbr.gov.pk/Docs/20191115911472992FBRREVENUEDIVISIONYEARBOOK2018-19.pdf

Page 6 of this report gives a break down of the categories for the years 2017-2018 & 2018-2019. However, should you prefer to trust numbers posted by an individual (without any link or reference) instead of the official data from the Ministry of Finance, no one can argue, believe whatever you will.

I would humbly request you to understand that quoting facts & actual numbers does not necessarily mean longing for Nawaz Sharif.

 

[Dil_Pakistan]

Sorry Sir,

According to the official "2018-2019 Year Book of the Ministry of Finance yearbook, There was a 0.4% negative growth in Tax collection.

Quote

FBR Revenue Collection vis-à-vis Target FBR has collected Rs. 3,828.5 billion during FY 2018-19 against Rs. 3,843.8 billion during FY 2017-18 indicating a negative growth of 0.4%. The revised revenue target of Rs. 4,150 billion has been achieved to the extent of 92.3%. The direct taxes, sales tax, FED and customs missed their respective targets by 12.9%, 2.1%, 10.5% and 6.7% respectively. Unquote


http://download1.fbr.gov.pk/Docs/20191115911472992FBRREVENUEDIVISIONYEARBOOK2018-19.pdf

Page 6 of this report gives a break down of the categories for the years 2017-2018 & 2018-2019. However, should you prefer to trust numbers posted by an individual (without any link or reference) instead of the official data from the Ministry of Finance, no one can argue, believe whatever you will.

I would humbly request you to understand that quoting facts & actual numbers does not necessarily mean longing for Nawaz Sharif.

You do realize we are talking about target and numbers for year 2019-20? What you are quoting is for year 2018-19. If anything, it shows current year's numbers in even more better light, it means the growth was from Rs. 3828 bn to Rs. 3957bn going by OP article or Rs. 3989bn going by this tweet.

 

[niaz]

You do realize we are talking about target and numbers for year 2019-20? What you are quoting is for year 2018-19. If anything, it shows current year's numbers in even more better light, it means the growth was from Rs. 3828 bn to Rs. 3957bn going by OP article or Rs. 3989bn going by this tweet.

Nowhere did I mention this data was for 2019-2020. I compared the two consecutive years because Pakistan's fiscal year is from July - June. PTI took over in August 2018; therefore they were in power for 11 months of the 2018-2019 fiscal year. The proper comparison should always be from the immediately preceding year. Else one could use any year from the past and compare it with the current year to show that performance is better. 2018-2019 reflected PTI gov't performance without outside interference.

IMO 2019-220 should not be compared with 2017-2108 primarily because Pakistan’s IMF package was approved in July 2019 and Pakistan had to follow IMF guidelines during 2018-2019.

I don't agree with PTI's obsession to perpetually belittle past gov'ts, they should instead be comparing their performance against their election promises and try to improve their governance accordingly.

 

[Patriot forever]

I was not aware of that exact figure, if indeed IK’s government achieved 17pc growth pre covid in tax collection. Then it is very good thing, especially considering that growth had already slowed. Managing higher collection off the back of slower growth is an achievement in itself. But of course as I said the 5.55tn figure was very high and would not have been achievable even without covid.

I hope after covid his government achieves whole year fiscal targets, it would benefit us a lot.

And here, just a few posts above:


@Syed1. you can see I’m being more than fair to the PM here. So please try to read what I have said before assuming I’m being biased etc.

In the first 7 months of FY20 before Covid. The statement by FBR attached below is self explanatory.