ISLAMABAD: The Federal Board of Revenue (FBR) missed its revenue collection target by nearly Rs42 billion in the first two months of the current fiscal year, mainly due to a decline in domestic sales tax collections.

Between July and August, FBR collected Rs1.657 trillion, falling short of the target of Rs1.699tr. However, this represents a 15pc increase compared to Rs1.436tr collected in the same period last year. The FBR anticipates a slight increase in collections on Aug 31, which could help narrow the overall revenue gap, according to provisional figures.

The shortfall is largely attributed to a slowdown in sales tax collection, influenced by factors such as business closures following widespread flooding. Additionally, utility bill revenue declined by Rs39bn during the first two months of........

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