Documentation of economy, digitization top Govt priorities: Finance Minister

Islamabad: Federal Minister for Finance and Revenue, Muhammad Aurangzeb said on Wednesday that documentation of economy and end to end digitization of tax system were the top priorities of the government.

 The finance minister Wednesday visited Federal Board of Revenue (FBR) Headquarters and held introductory meeting with its members to discuss the board’s performance and future initiatives.

The minister stressed the urgent need for digitizing the FBR to enhance transparency and efficiency in tax collection.

These initiatives would focus on enhancing tax collection through improved FBR governance, comprehensive documentation of the economy, and full-scale digitization. The government is considering strategies to broaden the tax base by incorporating wholesale/retail, real estate, and agriculture sectors into the tax framework, he said.

Aurangzeb said that digitization is a means to an end and implementing digital solutions are pivotal to modernizing our tax administration. He said that by leveraging technology and enhancing transparency, a more equitable tax system could be developed that fosters economic growth and benefits all citizens.

The meeting concluded with a firm commitment from both sides to work towards promoting the welfare of the Pakistani people.

Minister Aurangzeb praised the dedication of the FBR team and pledged the government’s full support in implementing transformative measures. The minister’s visit to the FBR headquarters underscores the government’s dedication to strengthen fiscal governance and promoting economic prosperity in Pakistan, the statement added.