Islamabad: Prime Minister Shehbaz Sharif has commended the Federal Board of Revenue (FBR) and the Intelligence Bureau (IB) for their measures to boost tax collection. Referring to a report regarding the joint efforts by these agencies, which led to a recovery of 178 billion rupees, he stated that all institutions must work together to increase national tax revenue.
According to Radio Pakistan, the Prime Minister highlighted that Pakistan’s economic stability has been made possible through the collective efforts of the team. He emphasized that the country’s economic development and public prosperity also require unified efforts from all stakeholders.
The Prime Minister was presented with a report by the FBR and the Intelligence Bureau on operations against tax evasion and hoarding. These measures resulted in an increase of 69 billion rupees in tax revenue through company mergers and outstanding dues in the telecommunications sector.
The report detailed that the Intelligence Bureau conducted 515 raids in various sectors, including sugar, animal feed, beverages, edible oil, tobacco, and cement. As a result of these operations, attempts at tax evasion were thwarted, and an additional 10.5 billion rupees in taxes was collected.
The report further states that the Intelligence Bureau, to combat hoarding and artificial price hikes, carried out over 13,000 operations in the sugar, fertilizer, and wheat sectors. Since April 2022, over 99 billion rupees worth of illegally hoarded goods have been seized.