PM Shehbaz Sharif lauds FBR for surpassing tax target

Prime Minister Muhammad Shehbaz Sharif has praised the Federal Board of Revenue (FBR) officials for their exceptional performance in surpassing the tax collection target for May 2024. The FBR team managed to collect Rs 760 billion in taxes during the month, exceeding the set goal of Rs 745 billion. This accomplishment underscores the government's dedication to boosting revenues for economic stability and growth.

Highlighting the significance of revenue generation, Prime Minister Shehbaz Sharif pointed out a remarkable 31% increase in tax collection from July to May 2023-24 compared to the previous fiscal year. Moreover, the month of May 2024 witnessed a notable 43% surge in tax revenue compared to May 2023. The Prime Minister attributed this substantial growth to the unwavering commitment and hard work demonstrated by the FBR team.

The impressive performance of the FBR in exceeding the tax collection target reflects the government's proactive approach towards enhancing financial resources. Prime Minister Shehbaz Sharif's acknowledgment of the FBR's efforts underscores the importance of efficient tax collection for sustaining economic progress. This achievement not only signifies a positive step towards economic stability but also highlights the crucial role of revenue generation in driving national development.