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PM Shehbaz emphasizes digitalization of FBR for economic reforms
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PM Shehbaz emphasizes digitalization of FBR for economic reforms

Prime Minister Shehbaz Sharif chaired a meeting to review the country’s economic situation, highlighting the importance of digitalization of the Federal Board of Revenue (FBR) as part of the government’s economic reforms.

The Prime Minister asked the economic team to complete critical tasks related to the process by December 31, adding that digitalization was a major step in the government’s major economic reforms. “Digitization of the FBR will enable a data-driven strategy to boost revenue collection and ensure efficient taxation,” he said.

During the briefing, it was revealed that substantial progress had been made, including the completion of video analysis for the sugar industry and the design phase of similar systems in the cement sector. A digital invoicing mobile app for small businesses is expected to be launched by the end of this month, while complete digitalization of the FBR value chain is expected by March 2025.

The Prime Minister congratulated the economic team for its efforts, which have started to bear fruit, noting an increase in fiscal space and expressing optimism about the 15% year-on-year growth in sales of petroleum products, which reached a 25-month high. . The Prime Minister emphasized on a data-driven strategy to increase revenue and ordered to make taxation in the country efficient and faster.

Acknowledging the success of recent decisions, he hailed the timely export of sugar, which generated $500 million in foreign exchange. He, however, stressed the need for stricter measures against oil smuggling to ensure more sources of revenue.

The meeting also highlighted other advances:

  • A central assessment unit has been established in Karachi for anonymous customs assessments.
  • The hardware and data center of Pakistan Revenue Automation Ltd (PRAL) are being upgraded and a new board of directors has been formed to ensure efficient operation.

Prime Minister Shehbaz concluded by reiterating the importance of implementing a comprehensive revenue strategy, emphasizing the government’s commitment to sustainable economic reforms.