FBR Misses Rs76B in October, 4-Month Gap Rs274B

ISLAMABAD: The Federal Board of Revenue (FBR) stumbled in October, collecting Rs950 billion against a Rs1.026 trillion target—a Rs76 billion shortfall that ballooned the July–October FY26 gap to Rs274 billion.

Provisional data shows Rs3.84 trillion collected versus Rs4.11 trillion targeted, though 12% growth from Rs3.43 trillion last year offered faint solace. FBR officials blamed sluggish domestic sales tax.

Per the IMF pact, contingency measures loom from January 2026 if shortfalls persist: GST on solar panels from 10% to 18%, higher telecom taxes, FED hikes on fertilisers/pesticides. The IMF’s 1% GST increase was rebuffed.

October breakdown: Rs430 billion (income tax), Rs345 billion (sales tax), Rs70 billion (FED), Rs109 billion (customs). Refunds doubled to Rs48 billion from Rs19 billion.

Regional performance varied: LTUs in Karachi, Lahore, Islamabad lagged, while RTOs in Lahore, Karachi, Gujranwala exceeded targets.

Yet, FBR celebrated a record 5.9 million returns by October 31—17.6% up from last year. 3.6 million with payments yielded Rs69 billion, 15% higher year-on-year.