- The Prime Minister welcomes the authorities to have reached a historic increase in income.
- Asks FBR to process taxpayers with dignity and respect.
- The income / GDP ratio reached 11.3%, an increase of 1.5% compared to last year.
Prime Minister Shehbaz Sharif warned that no institutional complacency would be tolerated in achieving income and economic objectives set for the new financial year, affirming that he would personally monitor the progress of income collection and the implementation of key economic objectives.
The Prime Minister made these remarks while presiding over a high -level weekly revision meeting on the agenda of digitization and reform of the Federal Board of Revenue (FBR).
During the meeting, it was revealed that the reforms and the application of new tax laws allowed the government to receive 865 billion additional revenue rupees compared to the previous year, an increase of eight times. The federal income / GDP ratio has also improved considerably, reaching 11.3%, an increase of 1.5% compared to last year.
Explaining on occasion, Prime Minister Shehbaz applauded the Ministry of Finance and the Tax Collection Authority for having reached a historic increase of 42% of federal tax revenues during the year 2024-25 – The highest increase in the last decade.
He asked FBR to deal with taxpayers with dignity and respect and called on all public sector institutions to extend full cooperation with Revenue Authority. The Prime Minister also underlined the need to expand the tax net through digitization and application.
He also published key directives, including the expansion of the Track and Trace digital production system to cover all stages of production and distribution in order to introduce non -taxed production in the tax net, compulsory digitization of production processes for companies and tax industries, widening of the point of sale (POS) in the retail sector to strengthen the documentation and transparency of business.
The Prime Minister also congratulated the participants in Reunion for the successful passage of the next budget for the financial year and reiterated the government’s unshakable commitment to ensure a brilliant economic future in Pakistan.
It was informed during the briefing that the track and trace system has already been fully implemented in the sugar, tobacco and fertilizer sectors, and will soon be extended to cement and other industries.