PM Shehbaz Sharif leads tax reform meeting in Islamabad

Prime Minister Shehbaz Sharif recently chaired a crucial meeting in Islamabad to discuss the fiscal budget for 2024-25, focusing on fair taxation and economic reforms. Sharif highlighted the importance of ensuring that all segments of society bear the tax burden equally. He emphasized the need for elites to fulfill their tax obligations and warned against tax evasion.

One of the government's key priorities is the digitization of the tax system to enhance efficiency and transparency. Sharif also stressed the significance of the Federal Board of Revenue (FBR) in driving economic growth and pledged full support for its development and digitalization.

Efforts are underway to expand the taxpayer base promptly, with international firms McKinsey and Karandaaz briefing the Prime Minister on progress made in digitizing the FBR and increasing revenues. Plans for revenue enhancement in the short and medium term were also discussed.

In addition to tax reforms, Sharif met with JUI-F Chief Maulana Fazlur Rehman to address political issues collaboratively. He proposed the formation of a committee for this purpose and approved the initiation of legislation for the Ease of Doing Business Act, demonstrating the government's commitment to creating a business-friendly environment in Pakistan.

Sharif directed the simplification of documentation procedures for businesses through a one-stop shop facility, inspired by a successful project in China. The government aims to establish an electronic registry and an online One Window Pakistan Business Portal to streamline business operations.

Furthermore, federal secretaries and department heads were instructed to personally engage with the Task Management System to monitor directives effectively. Daily reviews will ensure the system's efficient implementation and timely project completion.

The meeting, attended by key officials from various ministries and departments, reflects the government's dedication to efficient governance and economic development.

Prime Minister Shehbaz Sharif's proactive approach towards tax reforms, economic growth, and business-friendly policies underscores the government's commitment to fostering a fair and transparent system. By prioritizing digitization, expanding the taxpayer base, and simplifying procedures, the government aims to create a conducive environment for sustainable development and prosperity in Pakistan.