A senior FBR official confirmed that the revenue collection would cross Rs 145 billion on compilation of final figures. In the next few days, the revenue reporting from far flung areas and reconciliation of data would result in further improvement in revenue collection. The FBR will generate Rs 4-5 billion in coming days and revenue collection for November 2012 would stand at Rs 145 billion to Rs 146 billion, he added. So far, the FBR has yet not decided to downward revise the target of Rs 2,381 billion for 2012-13.
Latest data revealed that the FBR has collected Rs 549 billion during July-October 2012-2013 against Rs 613 billion target for the period under review. During first quarter 2012-13, the FBR has collected Rs 409 billion against the target of Rs 437 billion during this period. In view of provisional revenue collection of Rs 140 billion in November 2012, the provisional collection during July-November stood at Rs 689 billion. It is estimated that during 2012-13 around Rs 96 billion is expected to be generated through new scheme; Rs 32 billion from budgetary measures announced in the budget (2012-13), Rs 24 billion through regularisation of 0.3 million smuggled vehicles and remaining amount is expected from settlement of past dues through Alternate Dispute Resolution (ADR) mechanism and recovery of arrears.