Government's Budget Focuses on Tax Base Expansion

The Coordinator to the Prime Minister recently revealed that the government's upcoming budget will prioritize expanding the tax base as a key strategy for economic recovery. This decision aligns with the Prime Minister's vision to implement significant measures to boost the economy. In a recent interview with a private news channel, the Coordinator emphasized the government's commitment to achieving economic targets through strategic actions.

One of the major steps outlined is the reorganization of the Federal Board of Revenue (FBR) to enhance tax collection efficiency. Additionally, the government plans to bring the retail sector in major cities under the tax framework to increase revenue streams. A significant focus will also be placed on digitizing the tax system to streamline processes and improve compliance.

Furthermore, the government aims to advance its privatization agenda by initiating the divestment of Pakistan International Airlines (PIA) by June. This move is part of a broader strategy that includes privatizing entities like Islamabad Airports and other similar institutions to stimulate economic growth.

The government's decision to prioritize broadening the tax base in the upcoming budget reflects a proactive approach towards economic recovery. By implementing strategic measures such as reorganizing the FBR, including the retail sector in the tax framework, and digitizing the tax system, the government aims to enhance revenue generation and improve overall economic performance. The commitment to privatization further underscores the government's efforts to drive efficiency and competitiveness in key sectors. These initiatives signal a concerted effort to strengthen the economy and pave the way for sustainable growth.