Pakistan’s Federal Board of Revenue (FBR) has fallen short of its tax collection target for November 2024, raising concerns about the country’s fiscal stability. Despite a year-on-year increase of Rs 115 billion in November collections, the monthly goal of Rs 1,003 billion was missed by Rs 151 billion, contributing to an overall shortfall of Rs 344 billion for the fiscal year so far. Sources suggest that the International Monetary Fund (IMF) may require a mini-budget if the FBR fails to meet its December targets, intensifying economic pressures on the government.
Sources indicate that the International Monetary Fund (IMF) may require a mini budget from Pakistan if the tax collection agency does not meet its target by December.
Sources indicated that despite significant taxes imposed, the FBR is not meeting tax targets, resulting in an overall shortfall of 343 billion rupees in tax collection.
The tax authority gathered Rs 852 billion in November 2024, falling short of the monthly goal of Rs 1,003 billion, resulting in a shortfall of Rs 151 billion.
According to sources, the tax collection deficit over the past four months amounted to Rs 192 billion.
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The FBR has gathered Rs4,292 billion in the first five months of 2024-25, falling short of the assigned target of Rs 4,639 billion for July-November of this fiscal year, which indicates a deficit of Rs344 billion.
The tax authority collected Rs851 billion in November 2024, up from Rs736 billion in November 2023, resulting in a rise of Rs 115 billion.
