In recent news, the Prime Minister of Pakistan, Shehbaz Sharif, has emphasized the need for enhancing revenue collection in the country. He believes that with collective efforts, Pakistan could surpass even larger economies like India.
This call comes amidst concerns over the country’s significant tax evasion problem, estimated to be around Rs.5.8 trillion annually, accounting for 6.9% of the GDP.
Pakistan eyes Rs 24tn revenue target!
India has recently achieved a remarkable milestone by reporting a record-breaking $25.15 billion in gross goods and services tax (GST) collections for April, which is a 12.4% increase from the previous year.
At a ceremony honoring honest and hardworking officers of the Federal Board of Revenue (FBR), PM Shehbaz Sharif highlighted Pakistan’s potential to exceed revenue targets of Rs.9.4 trillion annually by collecting over Rs.24 trillion.
PM Sharif lamented the considerable losses due to corruption, inefficiency, and negligence, with a call to action for accountability and merit-based promotions within the FBR to address these challenges effectively.
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The prime minister pledged to crack down on corruption and fraud while ensuring that rewards and promotions are based solely on merit.
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