FBR surpasses revenue target, registers 30% growth

ISLAMABAD: In a remarkable display of fiscal performance, the Federal Board of Revenue (FBR) has exceeded its eight-month target for the fiscal year 2023-2024, registering a staggering growth of 30%.

According to data released by the FBR, the revenue collection for the period from July 2023 to February 2024 amounted to Rs5,829 billion, surpassing the set target.

The achievement comes on the heels of a robust performance in February 2024, during which the FBR collected Rs681 billion in revenue. This figure marks a significant increase from the Rs519 billion collected during the same period last year, reflecting a remarkable growth rate of 32%.

The FBR’s success in meeting and exceeding revenue target is indicative of Pakistan’s improving economic landscape and the government’s commitment to fiscal discipline.

This achievement is particularly noteworthy against the backdrop of ongoing economic challenges and the country’s efforts to secure financial stability.

The positive trajectory in revenue collection is expected to provide a much-needed boost to Pakistan’s fiscal position, allowing the government to meet its expenditure obligations and invest in priority areas such as infrastructure development, social welfare programmes, and poverty alleviation initiatives.

As Pakistan continues to navigate its economic challenges and pursue reforms aimed at fostering inclusive growth, the FBR’s stellar performance serves as a testament to the country’s resilience and determination to overcome obstacles on the path to prosperity.