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FBR triples revenue collection despite drastic cut in PSDP allocations during last decade
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FBR triples revenue collection despite drastic cut in PSDP allocations during last decade

ISLAMABAD: Despite step motherly attitude allegedly of the Finance Division towards the Federal Board of Revenue (FBR), the tax collecting organ has tripled its revenue collection over the past decade.

The Finance Division has been drastically reducing the funds for the Public Sector Development Programme (PSDP) of the FBR in last decade and this tendency should have marooned the its performance but the FBR demonstrated the other way round.

Sources told Customs Today that during the fiscal year 2007-8 the total allocations for the PSDP of the FBR was Rs 2,526.774 million for 69 development projects while the total revenue collection was Rs 1.008 trillion.

In the next fiscal year 2008-09, the revenue collection was taken up to Rs 1.161 trillion while the PSDP allocations were lowered to Rs 2,370.716 million along with reduced number of development projects to 30 only.

During fiscal year 2009-10, the Finance Division slightly increased the allocations of PSDP to Rs 2,448.308 million for 68 development projects and the FBR increased the figure of revenue collection to Rs 1.327 trillion.

The sources said that FBR added some two trillion in the last year’s tune of revenue collection taking the figure of Rs 1.558 trillion in fiscal year 2010-11 despite the almost 100% cut in the PSDP allocations; Rs 1234 million for 51 development projects.

In the very next fiscal year 2011-12, the number of development projects of the FBR were cut down to 38 with an increased amount of PSDP allocations to Rs 1970 million but FBR increased the tune of revenue collection to Rs 1.882 trillion.

Finance Division cut the PSDP allocations to half of the previous fiscal year in 2012-13 to Rs 806.768 million for 20 development projects; however, FBR took the revenue collection to Rs 1.946 trillion.

The sources said that in the fiscal year 2013-14, PSDP allocations were further reduced to Rs 533.346 million for 22 development projects but FBR added over three trillion rupees in the revenue collection; Rs 2.255 trillion.

In the next fiscal year 2014-15, Finance Division reduced the PSDP allocations for FBR to Rs152.495 million for 25 development projects, but FBR increased the revenue collection to Rs 2.589 trillion.

FBR increased some six trillion rupees in the revenue collection in the coming fiscal year and took the figure to Rs3.115 trillion in fiscal year 2015-16with PSDP allocations of Rs 353.091 million for 12 projects.

Likewise in the fiscal year 2016-17, FBR collected Rs 3.368 trillion with the allocation of PSDP of Rs 687.304 million for 09 development projects. The source concluded that for the current fiscal year  2017-18, FBR was granted Rs 790.100 million for 10 development projects while FBR took the figure of revenue collection to Rs 4.013 trillion.