Islamabad, Pakistan – Prime Minister Shehbaz Sharif has instructed that a third-party audit be conducted on all projects undertaken by the Federal Board of Revenue (FBR). This move aims to improve transparency and operational efficiency within the FBR.
The prime minister emphasized the importance of the FBR as the backbone of Pakistan’s economy and highlighted the significance of its digitization efforts. He stressed that increased revenue collection is crucial for providing better services to citizens and improving the social sector.
The prime minister also called for a stronger enforcement system within the FBR, recognizing its importance for the country’s financial stability. Express Tribune
During the meeting, the prime minister praised the FBR Transformation Plan and encouraged officials to seek feedback and recommendations from taxpayers. He reiterated the government’s commitment to promoting the private sector and combating smuggling.
The meeting was attended by several key federal ministers, including the Minister for Planning, Minister for Law and Justice, Minister for Economic Affairs, and the Minister for Finance.
The FBR has reported a significant increase in the number of tax return filers for FY23, reaching 5.3 million. The FBR also collected Rs9.285 trillion in total revenue, slightly surpassing its target. However, sales tax collection fell short of the target.
The government has set an ambitious revenue collection target of Rs12.97 trillion for FY25, aiming to increase tax revenue to 15% of the country’s GDP.
