Minister hopes FBR will achieve revenue collection target this year

ISLAMABAD: Minister of State for Revenue, Hammad Azhar has said he hoped the Federal Board of Revenue (FBR) will achieve set target of revenue collection this year.

Addressing a news conference in Islamabad today (Thursday), he said over one billion dollars of foreign investment was witnessed in the country during first five months of PTI led government.

The minister said that from August to December 2018, the country received foreign direct investment of around $1.72bn.

“This is more than double the figure reported in the first five months of the previous government,” he told mediamen.

He was of the view that government was taking concrete measures on emergency basis to steer out the economy from the crises.

He said trade deficit of the country has been declined by 5 percent.

He said the inflation rate during the current government’s tenure is at one point four percent, while it was five point eight percent in the PML-N government and nine percent in the tenure of the PPP-led government.

Azhar on Feb 6 directed the FBR to focus on the simplification of tax collection system and new laws should be framed in this regard.

The minister said that no favor will be given in the recovery of the taxes. Holding the PML-N government responsible for low tax collection, the minister said the past government left shortfall of Rs260bn for the next government.