Islamabad, Sep 2 (IANS): Pakistan's Federal Board of Revenue (FBR) has missed the revenue collection target by a whopping Rs 50 billion for August, the second month in the new fiscal year, despite introducing several revenue and administrative measures in the budget.

According to reports in the Pakistani media, as against the target of Rs 352 bn projected for the month of August, the government managed to collect provisionally Rs 302 bn, which is much below the government's expectation in view of its claim to make a record collection.

The Pakistan government also missed the revenue collection target by Rs 14 bn in July despite introducing several measures in the Finance Act 2019.

Prime Minister Imran Khan removed the then FBR chairman in May as it became clear that the revenue collection was heading towards a record shortfall. To achieve the ambitious target of Rs 5.55 tn, Khan on May 10 appointed Shabbar Zaidi from the private sector as FBR chairman to reverse the downward trend in revenue collection.

The total shortfall in just two months - July and August in revenue collection rose to Rs 64 bn in the current fiscal year.