Finance Minister Ishaq Dar has given a new challenge to the Federal Board of Revenue (FBR) to collect Rs 10 trillion in the fiscal year 2023-24 (FY24) as compared to the assigned revenue collection target of Rs 9.4 trillion for the year.
The minister visited FBR (HQs) on Wednesday and extended felicitations to Malik Amjad Zubair Tiwana on assuming the charge of Chairman and expressed confidence that he would work hard to achieve the revenue target for FY24.
Federal Minister for Finance Senator @MIshaqDar50 visited FBR HQs & felicitated Malik Amjad Zubair Tiwana on assuming charge of Chairman FBR. He expressed confidence that under the leadership of newly appointed Chairman Team FBR would achieve the current year’s revenue target.1/3 pic.twitter.com/m5Rd2MJu7Q
— FBR (@FBRSpokesperson) August 2, 2023
The finance minister also congratulated the FBR team for achieving the July 2023 revenue target of Rs 539 billion. He further encouraged the FBR team to work with dedication and provide maximum facilitation to taxpayers.
“I do not want to scare the new FBR Chairman, but the FBR should try to chase the target of Rs 10,000 billion instead of Rs. 9,400 billion for 2023-24. Under the leadership of the new FBR Chairman, the FBR should achieve the five-digit target and chalk out a strategy in this regard. The FBR team has every capability to achieve the assigned target but also go for the figure of Rs 10,000 billion,” Dar said.
The FBR has the capacity to meet the figure of Rs 10,000 billion with the help of enforcement measures, plugging the leakages, and broadening the tax base, the finance minister added.
Total size of budget is 14.4 trillion. So Dar could not have possibly asked them to collect 10 trillion. Could be 1,000 billion or in other words 1 trillion