AIRLINK 69.92 Increased By ▲ 4.72 (7.24%)
BOP 5.46 Decreased By ▼ -0.11 (-1.97%)
CNERGY 4.50 Decreased By ▼ -0.06 (-1.32%)
DFML 25.71 Increased By ▲ 1.19 (4.85%)
DGKC 69.85 Decreased By ▼ -0.11 (-0.16%)
FCCL 20.02 Decreased By ▼ -0.28 (-1.38%)
FFBL 30.69 Increased By ▲ 1.58 (5.43%)
FFL 9.75 Decreased By ▼ -0.08 (-0.81%)
GGL 10.12 Increased By ▲ 0.11 (1.1%)
HBL 114.90 Increased By ▲ 0.65 (0.57%)
HUBC 132.10 Increased By ▲ 3.00 (2.32%)
HUMNL 6.73 Increased By ▲ 0.02 (0.3%)
KEL 4.44 No Change ▼ 0.00 (0%)
KOSM 4.93 Increased By ▲ 0.04 (0.82%)
MLCF 36.45 Decreased By ▼ -0.55 (-1.49%)
OGDC 133.90 Increased By ▲ 1.60 (1.21%)
PAEL 22.50 Decreased By ▼ -0.04 (-0.18%)
PIAA 25.39 Decreased By ▼ -0.50 (-1.93%)
PIBTL 6.61 Increased By ▲ 0.01 (0.15%)
PPL 113.20 Increased By ▲ 0.35 (0.31%)
PRL 30.12 Increased By ▲ 0.71 (2.41%)
PTC 14.70 Decreased By ▼ -0.54 (-3.54%)
SEARL 57.55 Increased By ▲ 0.52 (0.91%)
SNGP 66.60 Increased By ▲ 0.15 (0.23%)
SSGC 10.99 Increased By ▲ 0.01 (0.09%)
TELE 8.77 Decreased By ▼ -0.03 (-0.34%)
TPLP 11.51 Decreased By ▼ -0.19 (-1.62%)
TRG 68.61 Decreased By ▼ -0.01 (-0.01%)
UNITY 23.47 Increased By ▲ 0.07 (0.3%)
WTL 1.34 Decreased By ▼ -0.04 (-2.9%)
BR100 7,394 Increased By 99.2 (1.36%)
BR30 24,121 Increased By 266.7 (1.12%)
KSE100 70,910 Increased By 619.8 (0.88%)
KSE30 23,377 Increased By 205.6 (0.89%)
Print Print 2023-09-07

PM lays focus on tax reforms, sell-off process

  • Says increasing tax collection is the foremost priority of the government
Published September 7, 2023

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday directed all relevant institutions to work together for tax reforms as increasing tax collection is the foremost priority of the government.

While presiding over a high-level meeting regarding the Federal Board of Revenue (FBR) and Privatisation Division, he emphasized the need for improving relations between the federation and the provinces regarding tax documentation

The caretaker premier said that increasing the tax net is one of the priorities of the government and the FBR is an important part of the government machinery.

Pakistan’s real foe is its expenditure habit: caretaker PM Kakar

He further stated that the process of privatization of such state-owned corporations (SOEs) which are going into loss should be accelerated by fulfilling all the legal requirements and all federal ministries should fully cooperate with the Privatisation Division.

The FBR officials, while briefing the meeting, stated that the FBR is determined to fulfil the tax collection target of Rs9,415 billion given by the government.

The meeting was informed that the FBR collected Rs538 billion against the target of Rs534 billion for July 2023, while revenues of Rs669 billion was collected against the target of Rs648 billion for August 2023.

The meeting was further told that digital initiatives are being worked on to increase the tax-GDP rate. The FBR’s database is being linked with other institutions to expand the tax net. The FBR is working on a target of bringing one million new taxpayers into the system and 182,000 new taxpayers were brought into the system this year.

The scope of Point of Sales (PoS) is being extended to more cities and retailers on a priority basis.

The meeting was also informed that efforts are being made to add 20,000 retailers to POS this year.

The meeting was further told that a strategy is being made on the Integrated Transit Trade Management System. The work on customs digitization is going on and the Pakistan Single Window is being connected with more government institutions.

The Privatization Division informed the meeting that all the legal requirements regarding the privatisation of the institutions are being fulfilled.

Caretaker Federal Minister for Finance and Revenue, Dr Shamshad Akhtar, Advisor to the caretaker Prime Minister, Ahad Cheema, federal secretary finance, federal secretary aviation, federal secretary privatization, chairman FBR and other relevant government officials participated in the meeting.

Copyright Business Recorder, 2023

Comments

Comments are closed.

Usman Sep 07, 2023 11:16am
Can we please sell pia ,steel mills and all the loss making entities as soon as possible. We also need to do reforms on pensions.no more free riding
thumb_up Recommended (0)
Rafique Sep 07, 2023 12:15pm
government should take hard decisions for privitazation & its the right time to sell the all government institutes those are running in loss since decades in order to reduce the luggage that bear taxpapers
thumb_up Recommended (0)
Tariq Qurashi Sep 07, 2023 01:12pm
I agree that Tax reform is a priority. The tax net needs to be widened and the tax regime simplified. However increasing taxes is only one side of the coin: reducing expenditure is the other. Unnecessary duplication of ministries in the center, when the subject has been devolved to the provinces. Huge losses in the Publicly owned enterprises. Freebees for so many public servants and politicians ; free electricity, free petrol, free housing, free gas, free medical care, free telephones, free servants , free 10 Crore Landcruisers, free trips abroad, free Haj, free Umra etc. ; much of it paid for by the poor through indirect taxes which support the luxury of a few. If these things are seriously what the government wants to work on to change, then their reform efforts have 100% of my support.
thumb_up Recommended (0)
Masood Ahmed kakar Sep 07, 2023 03:16pm
Your attention should on recovery from government take holders and big business men.
thumb_up Recommended (0)