The closure of business activity in Karachi, holidays and less sales tax collection from petroleum products have increased revenue loss during this period. The closure of industries due to non-availability of power and gas has also caused massive revenue loss to the national exchequer. The shortage of gas in winters also adversity affected the manufacturing activity in the country. In the existing economic situation, it is a miracle to collect Rs 151 billion during 27 days of December 2012 against Rs 152 billion the same period last fiscal. However, the economic situation in 2011-12 was entirely different from 2012-13. The situation is worst as compared to corresponding period last fiscal.
The FBR is optimistic to reach Rs 210 billion in December 2012 on compilation of final figures next month, sources maintained. The provisional collection during July-November 2012-13 stood at Rs 690 billion. In case the FBR has been able to cross Rs 210 billion, the provisional collection would reach Rs 900 billion during first half of 2012-13. So far, the FBR has yet not decided to downward revise the target of Rs 2,381 billion for 2012-13.