Prime Minister Shehbaz Sharif has emphasized the formidable challenge posed by the tax-to-GDP ratio, noting that funds intended for meeting revenue targets are instead diverted towards corruption and personal gain.
Speaking at a ceremony honoring FBR officers, he emphasized the need for increased tax collection to tackle Pakistan's massive debt burden and reduce reliance on international loans.
The prime minister He underscored concerns that neighboring countries have made significant strides economically, suggesting that through concerted efforts, Pakistan could surpass India.
Mr Sharif expressed his joy and gratitude during a celebratory event, commending the dedicated service of officers towards Pakistan's development. He humbly acknowledged the nation's pride in their accomplishments, emphasizing that their efforts were integral amidst the various challenges facing Pakistan today.
Highlighting the economic landscape, PM Sharif lamented the disparity between Pakistan and its neighboring countries, underscoring the magnitude of Pakistan’s debt burden and the significant challenge of tax collection. He stressed the need for increased revenue generation to alleviate the reliance on loans.
Despite the obstacles, he remained optimistic about Pakistan's potential for progress, urging concerted efforts to overcome challenges and propel the nation towards prosperity. His remarks underscored a commitment to addressing economic hurdles and fostering a brighter future for Pakistan.
As regards the amount worth Rs 2.7 trillions held up across various appellate forums, including commissioners’ appeals, Appellant Tribunal Inland Revenue (ATIR) and various courts, he said now the law had been made to recover such amounts.
The premier said under the new law, the ATIR members, equivalent to the high court judges would be appointed through an open competition and their tests and interviews would be conducted through reputable institutions such as LUMS, IBA etc. He said those members would also get high perks and privileges equivalent to the senior judges.
Pointing to another Rs 756 billion sales tax scam recently uncovered by the FBR, the prime minister said he had directed the authorities concerned to make every possible to recover such looted money. He highlighted the detrimental impact of corruption on revenue targets, emphasizing the need for increased production to bolster revenue streams.
PM Sharif reaffirmed his commitment to accountability, asserting that officers with poor performance or involvement in corruption would not be tolerated. He underscored the importance of justice based on merit, stating that nations are built upon principles of accountability and fairness.
Earlier, the prime minister gave away the shields to the honest and hard working officers of the FBR and said that he was feeling proud that the country had plenty of such honest officers which could play their due role in development and prosperity of the country.
