No negligence to be tolerated in achieving revenue targets, warns PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday emphasized that no institutional complacency will be tolerated in achieving revenue targets and other economic goals for the new fiscal year. The prime minister chaired a high-level weekly review meeting on the digitisation and reform agenda of the Federal Board of Revenue (FBR).

During the briefing, it was revealed that reforms and enforcement of new tax laws enabled the government to collect an additional Rs865 billion in revenues compared to the previous year, an eightfold increase. The federal revenue-to-GDP ratio also improved significantly, reaching 11.3 percent, a 1.5 percent rise over last year.

The premier instructed the FBR to treat taxpayers with dignity and respect and called upon all public sector institutions to extend full cooperation with the revenue authority. The prime minister also stressed the need to broaden the tax net through digitalisation and enforcement. He issued key directives, including expansion of the Track and Trace Digital Production System, to cover all stages of production and distribution in order to bring untaxed production into the tax net, mandatory digitisation of production processes for tax non-compliant businesses and industries, widening the Point of Sale (POS) system in the retail sector to strengthen documentation and transparency, and ensuring business facilitation by keeping the FBR accessible to the business community and taxpayers.

Meanwhile, Khyber Pakhtunkhwa Governor Faisal Karim Khan Kundi called on the prime minister and briefed him on the tragic incident of River Swat in which a number of tourists lost their lives. The prime minister expressed his grief over the loss of lives and directed the relevant authorities to enhance their capacity building to forestall such occurrences, PM Office Media Wing said in a press release. Separately, Awami National Party (ANP) President Aimal Wali Khan called on the prime minister and discussed matters of mutual interest and overall political situation in the country. Meanwhile, in a meeting with Ambassador of Saudi Arabia in Islamabad Nawaf bin Saeed Al Malkiy, the prime minister appreciated the efforts by the kingdom for peace in the Middle East as well as its significant role in the ceasefire understanding between Pakistan and India. The Saudi ambassador thanked the prime minister for Pakistan’s role in peace and stability in the region.

Meanwhile, PM Shehbaz would lead Pakistan’s delegation at the 17th Summit of Economic Cooperation Organisation (ECO) which is being held in Baku, Azerbaijan, on July 3-4. The theme of the summit is ‘New ECO Vision for a Sustainable and Climate Resilient Future’, the Foreign Office spokesperson said in a press statement. During the summit, the prime minister will share Pakistan’s perspective on key regional and global challenges, reaffirm Pakistan’s commitment to the ECO Vision 2025, and advocate for enhanced intra-regional trade, transport connectivity, energy cooperation and sustainable development, it was added.