Islamabad: Full implementation of trace and track systems of FBR at plants of cement, sugar and tobacco industry will add up to 30-40% of tax on each industry within one year, this was told in a briefing to Prime Minister.
Prime Minister Muhammad Shahbaz Sharif chairs review meeting on expanding tax scope and increasing tax revenue.
The Prime Minister praised the efforts of the government’s economic team for moving quickly towards achieving the FBR’s revenue targets in the current fiscal year.
Individuals and sectors that have the ability to pay taxes but do not pay taxes should be brought into the tax net.
Prime Minister said that strong action should be taken against individuals and sectors that evade taxes.
He also said that officers and officials who assist tax evaders should also be held strictly accountable.
Prime Minister Sharif gave directives that modern technology should be used to prevent tax evasion.
Increasing the tax net is the top priority of the government, the government wants to reduce the burden on the common man by reducing the tax rate.
Prime Minister also ordered to that digital monitoring in cement and other sectors should be completed by June this year.
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Prime Minister also stated that steps should be taken in collaboration with the provinces to generate tax revenue in the tobacco sector.
Pending tax-related cases should be followed up effectively to ensure the collection of money for the country and the nation, the Prime Minister told in the meeting.
He said that by the grace of Allah, the country’s economy is stable and moving towards development.
Prime Minister said that everyone would have to fulfill their responsibility for national development.
The meeting was informed that the full implementation of the Track and Trace system in cement plants across the country has made it possible to increase tax revenue by billions of rupees.
The meeting was further informed that the implementation of this system in the sugar industry increased tax revenue by 35 percent from November 2024 to April 2025.
The meeting was told that due to FBR reforms under the leadership of the Prime Minister, the tax revenue target of 10.6 percent of GDP will be achieved.
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The meeting was attended by Federal Ministers Azam Nazir Tarar, Muhammad Aurangzeb, Ahad Khan Cheema, Attaullah Tarar, Chairman FBR and relevant senior officials.
