The government has missed its revenue mobilisation target for the current fiscal year 2018-19 despite revising the target downside.
The government had set revenue mobilisation target at Rs 945 billion (Rs 831 billion from federal government and Rs 114 billion from local and provincial governments) for the current fiscal year that ended today. But, the Finance Ministry had later revised the revenue mobilisation target down to Rs 860 billion. The government failed to meet the revised target too as it missed the revised target by more than Rs 25 billion, according to Financial Comptroller General Office (FCGO).
The government has been able to mobilise only Rs 835 billion revenue in the current fiscal year by the end of today evening, according the FCGO that revealed that the revenue mobilisation fell short of the target in excise duty, customs and VAT pulling the overall revenue mobilisation down.
The ministry had targeted to mobilise Rs 209.7 billion from income tax whereas income tax mobilisation was limited to Rs 190 billion only, the FCGO data revealed. The shortfall in income tax means the economic activities has been limited and the employment creation has been failed.
Likewise, the government has been able to mobilise almost Rs 155 billion in customs duty against the target of Rs 164 billion, also due to drop in imports of luxury items including the automobile because of government’s stricter policy towards auto imports.
The government also missed the VAT mobilisation target by Rs 10 billion as it has been able to collect only Rs 240 billion against the target of Rs 250 billion for the current fiscal year.
Likewise, the government also missed the excise duty collection target by Rs 3.38 billion to Rs 121.5 billion against the target of Rs 124.88 billion from excise duty.
The government had set revenue mobilisation target at Rs 945 billion (Rs 831 billion from federal government and Rs 114 billion from local and provincial governments) for the current fiscal year that ended today. But, the Finance Ministry had later revised the revenue mobilisation target down to Rs 860 billion. The government failed to meet the revised target too as it missed the revised target by more than Rs 25 billion, according to Financial Comptroller General Office (FCGO).
The government has been able to mobilise only Rs 835 billion revenue in the current fiscal year by the end of today evening, according the FCGO that revealed that the revenue mobilisation fell short of the target in excise duty, customs and VAT pulling the overall revenue mobilisation down.
The ministry had targeted to mobilise Rs 209.7 billion from income tax whereas income tax mobilisation was limited to Rs 190 billion only, the FCGO data revealed. The shortfall in income tax means the economic activities has been limited and the employment creation has been failed.
Likewise, the government has been able to mobilise almost Rs 155 billion in customs duty against the target of Rs 164 billion, also due to drop in imports of luxury items including the automobile because of government’s stricter policy towards auto imports.
The government also missed the VAT mobilisation target by Rs 10 billion as it has been able to collect only Rs 240 billion against the target of Rs 250 billion for the current fiscal year.
Likewise, the government also missed the excise duty collection target by Rs 3.38 billion to Rs 121.5 billion against the target of Rs 124.88 billion from excise duty.
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