Devil Soul
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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.
http://tribune.com.pk/story/556013/tax-collection-fbr-faces-revenue-shortfall-of-rs200-billion/
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.
http://tribune.com.pk/story/556013/tax-collection-fbr-faces-revenue-shortfall-of-rs200-billion/
