Islamabad January 31 2024: FBR collects 28.7 percent more tax during the first seven months of current financial year as compared to the same period last year, according to the official statement.
“FBR collects Rs 5150 Billion against the target of Rs 5115 Billion for the first 7 months of the current financial year. It collected Rs 3973 Billion during the corresponding months of the previous year.During Jan 2024,FBR collected Rs 681 Billion against Rs 545 Billion collected during Jan 2023” states FBR.
The consolidated fiscal deficit has been recorded at 2.3 percent of GDP (PKR 2407.8 billion) in Jul-Dec FY2024 against 2.0 percent of GDP (PKR 1683.5 billion) last year, according to ministry of finance.
While a primary surplus witnessed a continuous improvement due to contained growth in non-mark-up spending relative to markup payments. Primary surplus improved to PKR 1812.2 billion (1.7 percent of GDP) during Jul-Dec FY2024 from the surplus of PKR 889.6 billion (1.1 percent of GDP last year).
