ISLAMABAD: At last, the Federal Board of Revenue has disclosed the final figures of revenue collection for financial year 2016-17.
Chairman Federal Board of Revenue Tariq Mehmood Pasha has informed the Senate Standing Committee for Finance that the FBR collected Rs 3,362 billion in financial year 2016-17 against the set annual target of Rs 3,621 billion, while in financial year 2015-16, the FBR collected Rs 3,112 billion revenue against the target of Rs 3106 billion.
The meeting of Senate Standing Committee was held in Parliament House under the chairmanship of Senate Senator Salim Mandvi wala.
Chairman FBR Tariq Mehmood Pasha briefed the committee that current financial revenue target is Rs 4,013 billion and the FBR has no plan to review it at the movement. No matter who is in power, the FBR just executes the decisions of the current government, he said.
Committee also took the notice of difference on revenue figures between Federal Board of Revenue and State Bank of Pakistan. FBR took plea that all items are not included in State Bank data. The committee has briefed by the chairman FBR that only Auditor General can audit of FBR accounts but FBR can audit all the companies accounts, while other audit companies also audit the companies accounts.
Auditor General office has recovered Rs255 billion through audit from 2012 to 2017. Deputy Governor State Bank of Pakistan in reply to question said that there was no pressure on State Bank regarding Panama case by the government. The Standing Committee told that in 2013-14, audit of all cellular companies, including PTCL have begun. There are some issues related to withholding tax and federal excise duty. We have submitted the report to the Public Accounts Committee but PAC has not reviewed it.
The meeting was attended by Senators Muhammad Mohsin Khan Leghari, Aisha Raza Farooq, Kamil Ali Agha, Saud Majeed, Sardar Fateh Muhammad Mohammad Hussaini and Usman Saifullah, Governor and Deputy Governor State Bank, Chairman FBR, Auditor General Pakistan and other senior officials.