ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has lauded the Federal Board of Revenue (FBR) for achieving a historic 42% increase in tax revenues, expressing satisfaction over the institution's performance.
The appreciation came during a weekly review meeting chaired by the Prime Minister, focused on FBR’s digitization and ongoing reform initiatives. The meeting included a detailed review of the current revenue situation and the continued efforts to improve the tax system.
PM Shehbaz specifically commended the Ministry of Finance and the FBR for their efforts in boosting federal tax revenues during the 2024–25 fiscal year.
The meeting was informed that the implementation of reforms and effective tax laws received additional revenue of Rs 865 billion over the past year, which is a historic achievement.
According to the briefing, the tax proportion of GDP in the financial year 2024-25 was 11.3 percent, up 1.5 percent over the previous year.
At the meeting, the Prime Minister directed that all the institutions work hard to achieve revenue and economic goals in the new fiscal year, no shortage or institutional affordability will be tolerated in achieving economic goals.
The Prime Minister said that the FBR should treat the people with respect and respect and provide full facilities to the taxpayers and all the institutions should fully cooperate with the FBR for the development of the country's economy.
The meeting directed that the track and trace system be included in all stages of production and delivery of goods so that the tax net could be fully brought into the net, digitizing the production process of defaulters and all industries.
The Prime Minister also directed to expand the scope of the FBR's Point of Sale (POS) system in the retail sector.
It was informed that the track and trace digital system has so far been implemented in the sugar, tobacco and fertilizer industries, while the implementation of the cement and other sectors will be completed soon.
The Prime Minister further said that he was personally monitoring all stages of revenue collection and goals, as it is a problem with Pakistan's bright economic future.
During the meeting, the Prime Minister also congratulated the participants on the approval of the next fiscal year's budget.
