*ISLAMABAD – Federal Board of Revenue has failed in revenue collectiontarget in the first five months of the current fiscal year of 2018/19.*
The FBR envisaged tax collection of Rs1.479 trillion in the July-Novemberperiod. And, the revenue shortfall stood at Rs111 billion during the period.
In November, the provisional collection stood at Rs250 billion as againstthe envisaged target of Rs313.240 billion, depicting a shortfall of aroundRs63 billion.
PTI had set desirable budget deficit target of 5.1 percent of GDP forFY2019, keeping in view the massive tax as well as non-tax revenueshortfalls.
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The budget deficit climbed to 1.4 percent of GDP in the first three monthsof the current fiscal as against 1.2 percent in the corresponding period ofthe last Pakistan Muslim League (Nawaz)-led government.
