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Call to review proposed revenue target for next fiscal

Karachi:    President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said FBR should be given realistic the target for the next fiscal. IMF’s conditions have resulted in the contraction of the economy to the tune of thirty billion dollars and expecting enhanced revenue collection by FBR in these circumstances is self-deception, he said.

Talking to the business community Mian Zahid Hussain said that withdrawal of zero-rating facility will hit production, exports, jobs and revenue, therefore, the FBR’s target of Rs4.39 trillion for the ongoing fiscal should be revised downward while the proposed target of Rs5.5 trillion for the next financial year should also be reduced.

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