FBR set Rs 1070 billion target for 1st quarter of FY 2019-20

ISLAMABAD, Sep 4 (APP):National Assembly, Standing Committee on Finance, Revenue and Economic Affairs on Wednesday informed that Federal Board of Revenue has set Rs 1070 billion target for first quarter of current Fiscal Year, 2019-20.

The committee meeting was chaired by MNA, Asad Umer here in Parliament House.

While briefing the committee, Member Inland Revenue Operation, Dr Hamid Ateeq Sarwar said the FBR has set overall Rs 643.6 billion targets for July and August 2019, whereas during August, FBR has collected Rs. 579.4 billion against Rs. 505.8 billion collected in the correspondent period last year.

He said in absolute term around Rs 73.6 billion, which was 14.6 percent higher amount, has been collected as compared to the corresponding period of last year.

He said the target for the month of July 2019 has been fixed at Rs 291.5 billion and during the July of current FY, FBR has collected around Rs 281.7 billion against Rs 255.6 billion collected in July 2018, earning a growth of 10.2 percent.