Prime Minister Shehbaz Sharif on Wednesday directed the Federal Board of Revenue (FBR) to strengthen coordination with the business sector and address its genuine concerns without delay.
While chairing a meeting to review the performance and reforms of FBR, he also directed officials to visit Karachi during the first week of each month to maintain regular interaction with traders and industrialists and ensure their issues are resolved promptly.
Expressing optimism about the country’s economic outlook, PM Shehbaz said Pakistan’s economy had entered a phase of stability and voiced confidence that the current year would witness stronger economic growth and increased commercial activity.
The PM announced that businesses consistently complying with tax laws would receive official recognition and encouragement in acknowledgement of their contribution to the national economy.
He reiterated that the government’s priorities include improving the ease of doing business, promoting investment and exports, and simplifying the tax system to make it more transparent and business-friendly, thereby strengthening the confidence of investors and entrepreneurs.
During the meeting, officials briefed participants on the FBR’s performance and the progress of ongoing reform initiatives.
The meeting was informed that production monitoring systems have already been installed in the sugar, cement, tobacco, tiles, and fertiliser sectors, while similar systems are currently being introduced in the textile and beverage industries.
According to the briefing, production monitoring in the sugar sector helped generate an additional Rs42 billion in tax revenue over the past year. The system also contributed an extra Rs38 billion in tax collections from the cement industry, while monitoring in the beverage sector resulted in an additional Rs15 billion in revenue during the same period.
