The Federal Board of Revenue faced a sharp setback in the first quarter of fiscal year 2025-26. Official data shows the FBR collected Rs. 2,885 billion against a target of Rs. 3,083 billion. That created a shortfall of Rs. 198 billion during July to September.
The gap widened in September 2025 as collections reached only Rs. 1,230 billion. The target for the month was Rs. 1,368 billion, leaving a deficit of Rs. 138 billion.
This ongoing shortfall has raised fresh concerns about Pakistan’s ability to achieve its yearly revenue targets. Meeting these targets remains critical for the government’s negotiations with the International Monetary Fund.