FBR company hits Rs473 billion in March

The net collection for the month of March was Rs475bn against a target of Rs439bn, an increase of 8.2 percent. Compared to the collection of Rs326 in March 2020, revenue collection posted growth of 46pc.

The higher-than-expected collection in March was also commended by Prime Minister Imran Khan. Taking to Twitter, the premier said: 

I commend FBR efforts, achieving historic growth of 41% in March '21 with collections recorded at Rs.460 bn. During Jul '20-Mar '21 our collections reached Rs.3380 bn which is 10% higher than the same period last year. This reflects broad-based econ revival led by govt policies.

— Imran Khan (@ImranKhanPTI) March 31, 2021

The FBR has collected net revenue of Rs3.39 trillion during Jul-March period, which has exceeded the target of Rs3.29tr by more than Rs100bn. This represents growth of about 10pc over the collection of Rs3.08tr during the same period last year.

The amount of refunds disbursed was Rs177bn compared to Rs102bn paid last year, showing an increase of 74pc. 

The government, while preparing the budget for FY21, had assured the International Monetary Fund of raising Rs4.96tr as against Rs3.99tr collected in FY20 — a projected increase of 24.4 percent.