LAHORE: The Federal Board of Revenue (FBR) collected Rs 2,103 billion during July-March 2015-16 as compared to Rs 1,753 billion during the same period of the last fiscal year, showing a growth of around 20 percent, Ministry of Finance sources said.
The sources said that remittances sent by overseas Pakistanis during July-March of the current financial year were $14.158 billion as compared to $13.595 billion remitted in the same period of the last fiscal year, showing a growth of 4.14 percent.
The fiscal deficit has come down to 3.2 percent during July-February 2015-16 compared to the fiscal deficit of 3.3 percent of same period of last fiscal.
As many as 4,355 companies were incorporated during July-March during current year compared to the incorporation of 3,591 companies, a growth of 21.28 percent.
Another important indictor, the Large Scale Manufacturing also grew by 4.12 percent from July-January (2015-16) compared to growth of 2.51 percent during the same period of last year.
The credit to private sector (flows) expanded by 107.73 percent and reached to Rs.370.8 billion from July (2015) to April (2016) compared to flow of Rs.178.5 billion during last year.
