KARACHI: The Federal Ministry of Finance has set the revenue target of Rs 3,100 billion for the Federal Board of Revenue (FBR) in the recent budget for the fiscal year 2015-16.
According to details, Federal Finance Minister Ishaq Dar, in his recent meeting with FBR high-ups including Chairman FBR Tariq Bajwa, Member Customs Nisar Muhammad Khan and others, asked the authorities concerned to ensure achievement of the set target of Rs 3,100 billion during the fiscal year of 2015-16.
The finance minister also suggested the FBR authorities to utilize all their available resources in order to achieve the revenue target from the beginning of the FY2015-16.
It is pertinent to mention here that the Ministry of Finance during the year 2014-15 was set the revenue target of Rs 2900 billion for FBR while the FBR authorities concerned are utilizing all their resources to ensure successful achievement of the target set by the finance ministry in the current fiscal year2014-15.
It may be mentioned here that the FBR authorities concerned are facing Rs 200 billion more revenue target in the upcoming FY 2015-16 as compare to the previous FY 2014-15 which is certainly an up-hill task for the FBR authorities concerned.
The sources said that the Federal Board of Revenue (FBR) would definitely facing hard time in upcoming fiscal year in terms of achieving the revenue target, as the main functionary is already facing acute shortage of man-power and skilled set.
During the current fiscal year 2014-15, the field formation Collectorates are almost up to the task in terms of achieving revenue targets. However, it would be the matter of great concerns that what strategy would be adopted by the authorities concerned of FBR in upcoming FY2015-16.
