FBR-IB Operations Recover Rs178 Billion
PM Lauds Tax Recovery from Mergers, Telecom Sector; Urges Continued Team Effort
ISLAMABAD-(Mudassar Iqbal)-Prime Minister Shehbaz Sharif on Monday praised the Federal Board of Revenue (FBR) and the Intelligence Bureau (IB) for their joint efforts in boosting tax collection. He emphasized the importance of continued collaboration among all relevant authorities to strengthen national revenue and support Pakistan’s economic growth.
The Prime Minister noted that recent economic stability was the result of coordinated efforts, urging all stakeholders to work collectively for the country’s progress and the well-being of its people.
The prime minister was presented with a report by the FBR and IB on operations against tax evasion and hoarding, PM Office Media Wing said in a press release.
According to the report, the joint efforts by the IB and FBR had resulted in the recovery of Rs.178 billion.
These measures led to a Rs. 69 billion increase in tax revenue through company mergers and telecom sector dues,
it was added.
The IB conducted 515 raids in the sectors of sugar, animal feed, beverages, edible oil, tobacco and cement. As a result of these operations, Rs. 10.5 billion in additional taxes were recovered by thwarting attempts at tax evasion, the report added.
To overcome hoarding and artificial price hike, the IB carried out over 13,000 operations in the sugar, fertilizer, and wheat sectors, seizing illegally hoarded goods worth more than Rs. 99 billion since April 2022, the report further said.
Comments are closed, but trackbacks and pingbacks are open.