ISLAMABAD: Federal Finance Minister Dr Abdul Hafeez Sheikh stressed need to increase revenue collection momentum to achieve Rs 1,952 billion current target of fiscal year 2011-12.

Chairing meeting Tuesday of Tax Reforms Coordination Group TRCG, he lauded efforts of Federal Board of Revenue (FBR) where provisional collection up to April 2012 was about Rs 1,424 billion and still counting against last fiscal year's collection for same period at Rs 1,150 billion.

Sheikh hoped assigned budget targets would be achieved through sustained efforts and desired that detailed collection under various heads sent to him daily.

Chairman FBR Mumtaz Haider Rizvi briefed on discussions so far held between TRCG, FBR, policies, strategies to improve tax policy to increase revenue.

Budget proposals for upcoming budget to be presented in May 2012 were extensively discussed and strategized, it was officially stated. The day-long meeting was attended by Deputy Chairman Planning Commission Dr Nadeem ul Haque, Federal Secretary Finance Abdul Wajid Rana, Secretary EAD Dr Waqar Masood, DG (ERU) Dr Khaqan Najeeb, Members TRCG Irfan Nadeem, Arshad Zuberi, Bashir Ali Mohammad, Shabbar Zaidi, Ali Jameel, FBR members Riffat Shaheen Qazi Member (FATE), Shahid Hussain Asad Member (IR), Sardar Amimullah Khan Member (Enforcement & WHT), Raza Baqir Member (Admin), Azra Mujtaba Member (SP&S) & Nisar Muhammad Chief Collector (North) FBR.

TRCG crystallized current proposals on upcoming budget, with objective to facilitate business, reduce cost of doing business, avoid economic burden, harmonize tax laws, promoting industry and commerce while improving tax collection.