Can FBR collect over Rs 306 billion in one month?

The Federal Board of Revenue (FBR) has, provisionally, collected Rs 1281.612 billion during July-May 2010-11, against the revised target of Rs 1588 billion, reflecting a shortfall of Rs 306.388 billion. Sources told Business Recorder here on Tuesday that the FBR suffered shortfall of Rs 24.224 billion for May 2011, as the monthly collection of 30 days of May was Rs 131.776 against the target Rs 156 billion.
The FBR has to generate Rs 24.224 billion till compilation of final figures of May 2011 to meet the monthly target of Rs 156 billion. Now, the FBR has to collect overall Rs 306.388 billion in one month--June 2011--to meet the annual target of Rs 1588 billion.
The latest data compiled on Tuesday disclosed that the FBR had, provisionally, collected Rs 1281.612 billion during July-May 2010-11 against Rs 1128.388 billion in the same period of last fiscal year, showing a growth of 14.4 percent.
Breakup of revenue collection during July-May 30 (2010-2011) showed that the FBR collected Rs 465.593 billion as direct taxes during this period against Rs 413.648 billion in the corresponding period of last fiscal, reflecting an increase of 12.6 percent. Sales tax collection stood over Rs 542.910 billion during July-May (2010-2011) against Rs 463.336 billion in the same period of last fiscal year, reflecting increase of 17.2 percent. Sales tax collection at the import stage was Rs 273.637 billion against Rs 219.735 billion in the same period of last fiscal, showing improvement of 24.5 percent. Sales tax collection on domestic consumption was Rs 269.274 billion during the period under review against Rs 243.599 billion, reflecting increase of 10.5 percent.
The collection of federal excise duty (FED) was Rs 116.355 billion during the period under review against Rs 104.935 billion, showing an improvement of 10.9 percent.
The customs duty collection stood at Rs 156.753 billion during July-May 2010-2011 against Rs 138.469 billion in the corresponding period last fiscal year, reflecting an improvement of 13.2 percent.
The data of monthly collection sowed that the FBR collected Rs 131.776 billion during 30 days of May against Rs 93.843 billion in the corresponding period last fiscal year, reflecting an increase of 40.4 percent. The collection of direct taxes was Rs 34.341 billion during May 2011 against Rs 25.336 billion, showing an improvement of 35.5 percent. The sales tax collection was Rs 67.939 billion against Rs 46.019 billion, showing an increase of 47.6 percent. The FED collection was Rs 14.179 billion against Rs 9.753 billion in the corresponding period last fiscal year, showing an improvement of 45.4 percent. The collection of customs duty amounted to Rs 15.317 billion during May 2011 against Rs 12.735 billion in the corresponding period last fiscal year, showing an increase of 20.3 percent.