FBR Misses Eight-Month Revenue Target by Rs429bn Despite 11% Growth

The Federal Board of Revenue (FBR) has fallen short of its revenue collection target by Rs429 billion during the first eight months of the 2025-26 fiscal year, according to provisional figures released on Saturday. Despite the shortfall, the FBR reported an 11 percent year-on-year increase in total collections, reaching Rs8.121 trillion during the July-February period, compared to Rs7.334 trillion collected in the same period last year.

The FBR had set a revenue collection target of Rs8.550 trillion for the first eight months of the fiscal year. The shortfall has been primarily attributed to a slowdown in domestic sales tax collection, the suspension of super tax, and several other factors, sources said.

For the month of February alone, the FBR collected Rs944 billion, marking a 12 percent increase from Rs844 billion collected in February of the previous year. However, this monthly collection also fell short of the set target of Rs1.029 trillion by Rs85 billion.

Both income tax and sales tax collections have declined, contributing to the overall shortfall. The International Monetary Fund (IMF), in its most recent review, has already revised down the FBR’s annual tax collection target by Rs150 billion.

In the previous fiscal year, the FBR also missed its collection target by a significant margin, familiar with the matter. The current figures indicate ongoing challenges in meeting revenue targets despite year-on-year growth in overall collections.