Parliamentary Committee Directs FBR to Formulate Strategy for Reaching Revenue Targets The National Assembly Standing Committee on Finance and Revenue was held today under the chairmanship of Member National Assembly (MNA), Faiz Ullah. Member, IR-Policy, Federal Board of Revenue (FBR) briefed the Committee regarding the position of Income Tax Refunds from July 1, 2020, to December 31, 2020, saying that the opening balance was Rs. 379 billion, which was Rs. 313 billion on December 31, 2020, as closing balance. He further presented the slab-wise details of income tax refunds and pending refunds as of 01-01-2021. He also informed the committee about the updated status on sales tax refunds, including released up till July-December, 2020, in FASTER and Non-FASTER Refund System.