PM Shehbaz orders strict action to improve taxation & FBR Digitization by Dec 31
PM Sharif praised the rise in petroleum sales, reaching a 25-month high, and called for more stringent actions against the smuggling of fuel.
ISLAMABAD: Prime Minister Shahbaz Sharif announced that the efforts of the economic team are beginning to bear fruit, signaling positive trends in Pakistan’s economy. The Prime Minister made these remarks during a meeting chaired by him on the Federal Board of Revenue (FBR) digitization, emphasizing the importance of data-driven strategies to boost revenue collection.
PM Sharif described the digitization of FBR as a significant milestone in the country’s economic reforms, noting that substantial progress has been made in this regard. He commended the efforts of Finance Minister, Minister of State, FBR Chairman, and the Secretary of Finance for their contributions, stating that the positive impact of the economic team’s initiatives is already being felt. He also welcomed the expansion of fiscal space, which he deemed a promising development for the economy.
The Prime Minister directed that strict actions be taken to make taxation more efficient and faster, stressing the importance of implementing effective revenue enforcement strategies. He also instructed that key tasks related to FBR’s digitization be completed by December 31, 2024.
In addition, PM Sharif praised the rise in petroleum sales, reaching a 25-month high, and called for more stringent actions against the smuggling of fuel. He also highlighted the timely decision to export sugar, which resulted in a significant foreign exchange inflow of $500 million.
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In a briefing during the meeting, it was revealed that the complete digitization of FBR’s value chain is expected to be finalized by March 2025. The installation of video analytics for the sugar industry has been completed, and the design work for the cement industry’s video analytics installation is also finished.
