Karachi: The government is looking to bring further reforms to widen the tax net and boost external accounts, a news source quoted Finance Minister Asad Umar. The minister was addressing a business convention through a video link from Islamabad.
The statement comes in the wake of Federal Board of Revenue (FBR) missing its revenue collection target for the first quarter of the fiscal year 2018-19. FBR fell short by around PKR 15 million and managed to collect PKR 836 billion during the quarter.
The government needs to generate PKR 4.4 trillion in revenue during the current fiscal year to contain the budget deficit at 5.1%, which was revised upwards from the previous target of 4.9%.
