Islamabad: The Federal Board of Revenue (FBR) has reported a significant achievement, collecting a record tax revenue of Rs872 billion in January, marking a 29 percent increase compared to the same month last year. This substantial growth was achieved despite reductions in interest rates and a decline in inflation, signaling a positive trend in the country’s economic activities.

According to a statement by Ministry of Information and Broadcasting, the FBR’s revenue collection for January last year stood at Rs677 billion. The latest figures show notable increases in various tax categories, with income tax revenue rising by 28 percent and sales tax revenue increasing by 29 percent.

Furthermore, the collection of Federal Excise Duty surged by 34 percent, while Customs Duties saw a 30 percent growth in January. This marked increase in Customs Duties is attributed to a revival in economic activities and overall growth in the country.

The FBR’s record revenue collection is being viewed as a positive indicator of economic resilience and recovery, providing a boost to the national exchequer amidst challenging fiscal conditions.