Finance Minister Muhammad Aurangzeb announced that the Federal Board of Revenue (FBR) has surpassed the Rs13 trillion revenue target for the fiscal year 2025-26, marking a significant milestone for the national treasury.
He extended congratulations to the FBR for exceeding the revenue collection of Rs12.83 trillion for the year, emphasizing that such an accomplishment had never been reached in such a short period before. The minister highlighted that the fiscal year concluded successfully, with the fiscal deficit recorded at its lowest level in recent times.
Aurangzeb, this success is the result of effective teamwork, ongoing reforms, and the dedicated efforts of the FBR staff. He noted that Pakistan’s tax collection has nearly doubled over the past two and a half years, a development that has contributed to reducing the fiscal deficit and strengthening the country’s economic foundation.
In a significant development, the finance minister revealed that the FBR issued tax refunds amounting to Rs599 billion during the fiscal year, including a record Rs13.5 billion disbursed on the final day alone. He stressed that enhancing taxpayer facilitation, promoting transparency, and fostering public trust remain central priorities for the tax system.
Meanwhile, Aurangzeb added that the FBR is undergoing a transformation into a modern institution by integrating artificial intelligence and digital technologies to improve its operations and efficiency.
