Islamabad, The Federal Board of Revenue (FBR) has successfully met and slightly exceeded its revenue collection targets for the first nine months of the current financial year, achieving a notable increase despite issuing record-high refunds.
According to Press Information Department, the FBR collected Rs. 6,710 billion against a target of Rs. 6,707 billion, marking a robust 30% growth compared to the same period in the previous financial year. This performance is highlighted by the substantial issuance of refunds, totaling Rs. 369 billion, an increase from Rs. 254 billion in the previous year. For March 2024 alone, FBR reached its target with Rs. 879 billion collected and refunds of Rs. 67 billion, compared to Rs. 22 billion in March 2023.