Islamabad: The federal government has achieved the target of petroleum levy tax collection for the financial year 2023-2024 in the first eleven months.
As per the details, it was targeted at Rs 869 billion but the actual collection is likely to reach Rs 902 billion by the end of May 2024.
Including the June revenue, the total collection is estimated to reach Rs 1 trillion, which is much higher than expectations and reflects the effective revenue strategy of the government.
Additionally, the Federal Board of Revenue (FBR) has reported a total revenue of Rs 8.12 trillion for the first eleven months of FY2024.
This is a substantial increase of 30.8% compared to Rs 6.21 trillion collected during the same period of the previous financial year.
