ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday expressed determination to bring macro-economic stability and give Pakistan a growth path.
Addressing the Tax Excellence Awards ceremony in Islamabad, the Prime Minister said that ensuring export-led growth through joint efforts is the only solution to make the country debt-free.
The Prime Minister also said that the government will strive to uplift productive sectors such as industry, information technology (IT) and agriculture.
Referring to the new IMF programme, the prime minister said the government was taking steps to stabilize the country’s economy.
“The state will also focus on addressing the problem of inflation while ensuring growth and creating employment opportunities,” Prime Minister Shehbaz said, adding that the federal government along with the provincial governments would create an enabling environment for the private sector and address the challenges faced by them. industry.
Shehbaz added that refunds to the tune of Rs 65 billion have been given to exporters and expressed determination for timely payment of refunds in future.
The prime minister also promised to supply electricity to industries at competitive rates to increase productivity.
On investment, the Prime Minister said that a Special Investment Facilitation Council (SIFC) platform has been created to attract foreign inflows and that the second phase of the China-Pakistan Economic Corridor (CPEC) will be developed in due course.
Talking about tax reforms, the Prime Minister said that the Federal Board of Revenue (FBR) will be restructured and mentioned the hiring of consultants scheduled for next month for the complete digitization of the tax collection body.
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Highlighting the low tax-to-GDP ratio, the prime minister said the tax base needed to be increased, while labeling top tax payers and exporters as “heroes of the country” and announcing that they would be issued blue passports.
He additionally mentioned that the highest tax payers will be presented with an honorary card and the highest recipient of each category of today’s awards will be given honorary ambassador status.
The prime minister also said that these benefits were aimed at higher tax collection.
Speaking on the occasion, Finance Minister Muhammad Aurangzeb said that they want to ensure transparency and increase revenue collection through digitization of FBR.
The finance czar expressed confidence that the initiative will help regain people’s confidence and trust in the FBR.
FBR Chairman Amjad Zubair Tiwana said an agreement was recently reached on process automation and digitization of tax administration.
