Islamabad, Jan. 1 -- Pakistan's tax authority, the Federal Bureau of Revenue fell significantly short of its revenue commitments by the end of December 31, collecting a total PKR 6,154 billion ($22.2bn), against a budget of PKR 6,490 billion ($23.4bn), failing to meet its target laid out under the IMF's programme by a shortfall of PKR 336 billion ($1.21bn), ) during the first half of the current fiscal year, covering July to December, as per govt data.
Earlier internal projections had warned that the shortfall could widen to between PKR 400 billion and PKR 500 billion ($1.44bn-$1.80bn), which had led the FBR to reduce its annual tax collection target, from its initial full-year goal of collecting PKR 14,130 billion ($50.9bn), as approved b...