Business
PM directs FBR to revise revenue strategy to reduce debt
Shehbaz Sharif praised the FBR for achieving a 30 percent increase in tax collection during the last financial year
Islamabad: Prime Minister Shehbaz Sharif Saturday directed the Federal Bureau of Revenue (FBR) to reevaluate its strategy for enhancing revenue collection to help free the country from debt.
Chairing a meeting during a visit to the FBR office in Islamabad today, he emphasized that the sectors that are not paying taxes must be brought into the tax net.
The Prime Minister said: “The process of digitisation has been started in the FBR,” assuring that it will be carried out in the most comprehensive and coordinated manner. He assured full support to the revenue collection body in acquiring the latest technology.
Shehbaz Sharif praised the FBR for achieving a 30 percent increase in tax collection during the last financial year. He emphasized the need to reach the tax collection target of Rs13 trillion set for the current fiscal year.
However, he said traders and investors should not be harassed, instead, they should be fully facilitated. The premier clarified that tax should be collected where it is due.
The Prime Minister appreciated the finance team for securing the staff-level agreement with the IMF, expressing confidence that the board of the international lender will also approve it.
He stated it is now time to act swiftly and tirelessly to make this program the last one in the country's history.
The need for structural changes to augment macroeconomic indicators and put the country on the path of development, added Shehbaz.