Prime Minister Shahbaz Sharif has directed the administration for fast and effective taxation measures along the lines of revenue generation strategy. He cited the timely decision to undertake sugar exports, which brought enormous remittances amounting to almost $500 million.
During a review meeting on the economic situation in the country and the digitization of FBR, the Prime Minister emphasized that the digitization of the Federal Board of Revenue is a major limb of the government’s economic reforms. Complete video analytics viewing on the sugar industry has already been completed. The entire value chain digitization is expected by the March of the coming year.
The Prime Minister is also satisfied with the increasing fiscal space as well as much lauded the efforts of the finance team. He urged that such important digitization tasks be completed by the end of the month.
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He further noted that, as a result of the crackdown on smuggled fuel, reduction in petrol and diesel prices, and increased consumption of petroleum products, sales reached 1.58 million metric tons, a 15% increase over the year, and the highest in the past 25 months. The Prime Minister urged for early installation of the cement industry’s video analytics system.
Moreover, a new board has been constituted for Pakistan Revenue Automation Ltd (PRAL), and upgrading of its hardware and data center is in progress. The central assessment unit for faceless customs assessment at Karachi Airport will start functioning by the end of this year.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Planning Minister Ahsan Iqbal, Minister of Economic Affairs Ahad Cheema, Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, Minister of State for Finance Ali Pervaiz Malik, and senior officers.