ISLAMABAD: Minister for Finance, Senator Mohammad Ishaq Dar Friday chaired a meeting to review the six-month performance of Federal Board of Revenue (FBR) for the period July- December of the financial year 2016-17.
Briefing finance minister, Chairman FBR Nisar Muhammad Khan said the FBR had collected more than Rs 1,467 billion in the first half of the financial year 2016-17 as compared to Rs 1,370.9 billion during the corresponding period in the financial year 2015-16, reflecting 7 per cent growth in tax revenues, compared to target revenue growth of 16 per cent for the current fiscal year.
He informed finance minister that revenue collection during December 2016 had been the highest amongst all the six months of the current fiscal year so far.
The finance minister said the strong performance in December 2016 bodes well for revenue collection in the second half of the financial year 2016-17.
While taking notice of the fact that only 7 per cent revenue growth had been achieved in the first half of the financial year 2016-17 compared to target revenue growth of 16 per cent, the finance minister urged the FBR team to undertake all necessary efforts to make up the revenue shortfall compared to the target set at the beginning of the current fiscal year.
He emphasized strong tax revenue collections were vital to achieving higher, sustainable and inclusive economic growth, which was a primary focus of the government.
The meeting was also attended by Special Assistant to Prime Minister on Revenue, Haroon Akhtar Khan and senior officials of the FBR aand the Ministry of Finance.
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