ISLAMABAD – Prime Minister Imran Khan on Tuesday inaugurate the Federal Board of Revenue’s (FBR) Track and Trace System for the sugar sector.
Speaking on the occasion, the premier described taxes vital for country’s economic growth and survival. He hoped that the use of modern technology will curb tax evasion and increase annual tax collection to Rs8,000 billion.
He asserted that a country cannot be run without taxes, adding: “We have to take loans to run the country”.
PM Imran Khan also congratulated Advisor of Finance Shaukat Tarin, FBR and other relevant institutions for introducing the first-ever Track and Trace system for which the efforts were being done since 2008.
He said that with a reasonable tax-to-GDP ratio in the West and highest in Scandinavian countries, Pakistan could not promote the tax culture due to different reasons including the aristocratic lifestyle of the ruling elite in the past, which damaged the confidence of taxpayers in governments.
— Radio Pakistan (@RadioPakistan) November 23, 2021
The FBR’s Trace and Track System will ensure electronic monitoring of the production and sale of important sectors including tobacco, fertilizer, sugar and cement sectors. The initiative will ensure transparency in the system and boost the revenue colelction.
Under the system, no production bag of sugar will be taken out from the factory and manufacturing plant without a stamp and individual identity mark.
In the next phase, the FBR is planning to introduce the track and system in the petroleum and drinks sector.