ISLAMABAD: In line with the IMF agreement, the Federal Board of Revenue (FBR) has envisaged a tax collection target of Rs3.08 trillion for the first quarter (July-September) of the current fiscal year 2025-26.
On the other hand, Chairman FBR Rashid Mahmood Langrial, when contacted on Friday, confirmed to The News that Dr Hamid Ateeq Sarwar was a good officer and he had requested that the government retain him.
Dr Hamid Ateeq Sarwar is going to reach the age of superannuation, and now a formal summary has been moved to seek approval of PM Shehbaz Sharif to retain him on contract basis.
On the FBR’s tax collection target, official sources said the tax collection target for July 2025 was envisaged at Rs748 billion, with the expectations of the tax machinery that they are going to achieve the desired target in the first months of the current fiscal year.
The FBR collected Rs453 billion till the start of the ongoing week and the high-ups hope that the collection might cross the Rs500 billion mark.
The FBR envisaged tax collection target of Rs14,131 billion for the current fiscal year.
“We have envisaged the first quarter target of Rs3.08 trillion in July-September period of FY2025-26,” top officials of the Finance Ministry confirmed to The News on Friday.
The FBR’s monthly target for July 2025 has been envisaged at Rs748 billion. The FBR might go close to the fixed target for the ongoing month but it will have to muster up its energies to maximize the tax collection in the next week.
For August 2025, the FBR has fixed a tax collection target of Rs950 billion and Rs1,385 billion for September 2025.
