On Thursday, Prime Minister Shehbaz Sharif gave the government stern instructions to carry out the revenue collection plan and to guarantee efficient and timely taxation.
He also told the group that $500 million in remittances were received as a result of the prompt decision to export sugar. According to a press release from the PM Office, the prime minister chaired a review meeting on the health of the nation’s economy and stated that digitising the Federal Board of Revenue (FBR) was a crucial part of the government’s economic reform strategy.
The group was informed that by March of the following year, the digitisation of FBR’s value chain will be finished. The sugar industry’s video analytics are already finished.
The premier praised the work of the finance minister, state minister for finance, FBR chairman, and secretary of finance and acknowledged the advancements made in the digitisation of the FBR.
He expressed delight with the growing fiscal flexibility and stated the economic team’s efforts were paying off. He instructed that the important FBR digitising tasks be completed by the end of this month.
Read more: Pakistan Exported 215,752 Tonnes Of Sugar During Feb-June Period Of Fy23
He claimed that the sale of petroleum products had increased to 1.58 million metric tonnes, the greatest level in the previous 25 months, as a result of the crackdown on illegal fuel and the drop in the price of petrol and diesel.
Prime Minister Shehbaz stated that a 15% rise in the sales of petroleum products year over year demonstrated the energy market’s recovery and ordered stringent steps to stop petrol smuggling.
The prime minister demanded that the video analytics system for the cement industry be installed as soon as possible.
According to the information provided, the system design for digital invoices has been finished, and by the end of this month, a mobile application for small business digital invoicing will be available.
Participants were told that Pakistan Revenue Automation Ltd. (PRAL) has a new board and that the company’s hardware and data centre are being upgraded. Additionally, Karachi Airport will have a central assessment centre for faceless customs assessment functioning by the end of this year.
Attendees included Minister of State for Finance Ali Pervaiz Malik, Planning Minister Ahsan Iqbal, Economic Affairs Minister Ahad Cheema, Finance Minister Muhammad Aurangzeb, Law Minister Azam Nazeer Tarar, Deputy Prime Minister and Foreign Minister Ishaq Dar, and other pertinent top officials.